Into the national holiday, it is suggested that zinc aluminum gradually liquidated or underweight

by:AAG     2020-11-08

zinc: on September 25, the Shanghai zinc overall strong shocks, night plate shock strength, high LME cash premium, import window closes. The domestic spot prices rise 230 yuan/ton to 25850 yuan/ton. Spot aspect, according to the SMM, Shanghai is subject to purchase low environmental factors, downstream traders clinch a deal due to higher premium is also relatively cautious; Guangdong downstream on-demand procurement with cargo as last Friday, clinch a deal market as a whole than Friday; Tianjin environmental impact on consumption is still, the downstream will poor goods, clinch a deal market as a whole than on Friday. Inventory, foreign markets back slightly, the domestic warehouse receipt back slightly. On September 25, zinc LME inventory reduction of 1475 tons to 261925 tons, 3030 aluminum zinc reduction by 1894 tons to 19312 tons of the previous period. According to my color, 5 inventory about eight. 770000 tons, from late Monday in 0. 280000 tons. According to the SMM, stocks dropped obviously, this week, Hong Kong and fall below 60000 tons. On the one hand, this week is still less, homebred brand zinc ingots and import quantity is not much, zinc into Shanghai increased supply co. , LTD. ; On the other hand, and a half weeks after prices fell, the downstream the dips spare parts inventory. SMM is expected, with 11 first exist for library next week, the Shanghai stock or there may continue to fall. Strategy suggestion: mine production is still affected by the environmental protection, back processing and smelting production limited, the downstream consumption grows steadily, and 3030 aluminum. First make inventory falling stock, etc. Low inventory still support zinc prices, considering going into eleven long holiday, suggest gradually liquidated or underweight. Aluminum: on September 25th, aluminium shock downward, night concussion higher, the Yangtze river spot price dropped 60 yuan to 16180 yuan/ton. According to SMM spot aspect, wuxi enterprises shut down more for environmental reasons, ready for the National Day strength is weak, the overall clinch a deal the same slightly better than Friday, focused on between traders; Downstream of the guangdong market is not ready for the show for the National Day will temporarily, the shipper will delivery in general, the overall volume is relatively light. Domestic exchanges of the warehouse receipt increased slightly, the domestic spot stock signs fall again, LME stocks fell back. On September 25, LME inventory reduction of 4075 tons to 1290775 tons, aluminum aluminum increased by 250 tons to 496875 tons of the previous period. According to my color 11 inventory statistics, electrolytic aluminium 25 inventory decline from 21, 0. 70000 tons to 160. 20000 tons. Aluminium producer Norsk veidekke warned Brazil bauxite supply shortage risk exists. Mineracao Rio do Norte( MRN) 3030 aluminum bauxite tailings disposal system appear problem, because of dry weather leads to lack of water. MRN in bauxite production will reduce 2 million tons in 2017, had expected is 1700 - 17. 5 million tons. Policy Suggestions: to illegal capacity gradually implement, winter heating season papers will further enhance aluminium electrolytic aluminium production cost reduction, thus to capacity effect or emerging, inventory signs began to come down, the whole maintain a long train of thought, considering going into eleven long holiday, suggest gradually liquidated or underweight.
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