Today’s aluminum market abstract: the LME aluminum inventory surge showed weak overseas demand, the weekly lun aluminum closed down 16 dollars, domestic consumption is still in positive growth, aluminum ingot social inventory more than expected to provide support, aluminum is expected to rise today.
Futures market: LME aluminum inventories surged for two consecutive days, indicating weak demand in overseas market and weak trend of London aluminum every other week. The new closing price was $1,460 / ton, down $16, or 1.08%. Trading volume of 10,272 lots decreased by 1,076 lots, while position volume of 863,759 lots increased by 12,771 lots.
Evening Shanghai aluminum shock, the main month 2007 contract new closing price of 12,560 yuan/ton, flat.
London metal exchange (LME) May 15, London aluminum new inventory of 1419,675 metric tons, up 58,100 metric tons, or 4.27% from the previous session.
Changjiang aluminum network: May 15 domestic spot aluminum prices rose, changjiang nonferrous network spot AOO aluminum ingots at 13030 yuan/ton, up 230 yuan;
Chinalco east China AOO aluminum ingots at 13040 yuan/ton, up 220 yuan.
Recent macro environment overall positive, domestic consumption is still in a positive growth, the cash market large receiving willingness is not reduced, aluminum ingots social inventory exceeds expectations to provide support, it is expected that today’s spot aluminum price rise.