Great Wall Albert: Daily Aluminum Review

On Monday night, LME aluminum rose 8 US dollars to close at 2,758 US dollars. Today's Shanghai Aluminum 710 contract opened at 19,680 yuan, higher to 19,720 yuan, lower to 19,620 yuan, the end price closed at 19,660 yuan, up 10 yuan, turnover of 5,252 hands, holding positions 24,434 hands. On Monday night, the external aluminum market was boosted by copper futures, and the price rose. The intraday trading volume was 91,186 lots, LME stocks remained at over 830,000 tons, and spot/three-month discount was 58 dollars. According to the International Aluminum Association, global aluminum inventories fell by 90,000 tons to 2.799 million tons in June, after revised to 2.889 million tons in May, which is the second historically low value since 1973, with North American stocks decreasing by 80,000 tons. . It is expected that LME aluminum will maintain its oscillatory pattern in the short term. Shanghai Aluminum opened slightly higher today, finished lower, oscillating and finishing, and the contracts closed lower and higher in the late session. The intraday trading was light and the positions were reduced. Shanghai aluminum prices fell today due to the weak off-season spot consumption, and all local inventories have increased. The spot premium has narrowed to below 100 yuan, and the atmosphere in the stock market has been relatively strong. It is expected that Shanghai Aluminum will continue to maintain its oscillator for the short term.

In terms of spot, today's aluminum prices in Guangdong continue to decline slightly by 100 yuan, and the transaction status is generally fair. The transaction range is 19660-19780 yuan/tonne; Shanghai Aluminum's price is down 50 yuan, and transactions are average. The Yangtze River market is mainly traded at 19840-19880 yuan/ton. Level, near the elevation of 60-80 yuan.

Inventory: Last week (July 23 - July 27), the total inventory of the designated delivery warehouses of the Shanghai Futures Exchange increased by 4811 tons to 41,042 tons; of which, Shanghai stocks decreased by 3912 tons to 15,293 tons; Guangdong increased by 6,523 tons to 12,049 tons; Wuxi increased by 2,000 tons to 8,900 tons; Hangzhou reduced by 200 to 840 tons.