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Weak Market Demand Continued Weakness in the Price of Aluminum
Weak Market Demand Continued Weakness in the Price of Aluminum
Comments on the international market: the current market is mainly focused on the United States in July non farm data in the evening, before the market to remain cautious, today's Lun aluminum fell slightly, below the support of $1550. Beijing time LME3, 16:17 month period of $1591, compared with the last trading day fell by $0.5.
Domestic market: today Shanghai aluminum futures month 1510 contract opening $11990. Intraday high of $12005 11910 yuan lower, trading close to 11960, compared with the previous trading day to fell 105 yuan / ton. China's economic slowdown brought about by the demand for downward pressure or increase the supply of the world's supply of excess current situation, the Shanghai aluminum pressure fell today, the market exchange is light, the price outlook or the continuation of the weak pattern, investors continue to maintain a wait-and-see attitude.
The domestic and foreign news:
1. Recently, the world's largest aluminum producer, said the world's largest aluminum producer, the company and other peers are still considering the production, following the last two years to cut 650000 tons, the company or in September this year to cut 200000 tons, is expected to rise by the end of this year to about $2000 per ton.
2. Although the price of aluminum fell to six year low, but China's aluminum producers and did not cut. Aluminum is one of the most active metal varieties in the world. If you appear to be like the price of aluminum this year, such a deep down, metal producers will generally reduce supply. But at present, China has a series of high cost and high efficiency of the new smelting equipment, production has not been the basic
Domestic market: today Shanghai aluminum futures month 1510 contract opening $11990. Intraday high of $12005 11910 yuan lower, trading close to 11960, compared with the previous trading day to fell 105 yuan / ton. China's economic slowdown brought about by the demand for downward pressure or increase the supply of the world's supply of excess current situation, the Shanghai aluminum pressure fell today, the market exchange is light, the price outlook or the continuation of the weak pattern, investors continue to maintain a wait-and-see attitude.
The domestic and foreign news:
1. Recently, the world's largest aluminum producer, said the world's largest aluminum producer, the company and other peers are still considering the production, following the last two years to cut 650000 tons, the company or in September this year to cut 200000 tons, is expected to rise by the end of this year to about $2000 per ton.
2. Although the price of aluminum fell to six year low, but China's aluminum producers and did not cut. Aluminum is one of the most active metal varieties in the world. If you appear to be like the price of aluminum this year, such a deep down, metal producers will generally reduce supply. But at present, China has a series of high cost and high efficiency of the new smelting equipment, production has not been the basic
