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On Wednesday morning, the Shanghai aluminum 1807 contract opened at 14520 yuan / ton, after the opening of Shanghai aluminum first rose and then suppressed, the early bulls took the initiative to increase positions under the aluminum price slightly touched 14595 yuan / ton, and then the 20-day line continued to show strong resistance, more kill and more market led by the rapid downward drain of aluminum prices low touched 14460 yuan / ton, below the 60/5 daily moving average support appeared, bears actively closed the market driven by the Shanghai aluminum slowly repair part of the decline to close at 14505 yuan / ton, The Shanghai aluminum index increased its position by 810 lots to 738096 lots
.
In terms of the external market, in the morning, Lun aluminum opened at 2245 US dollars / ton, during the Asian session, Lun aluminum around the daily average of 2251 US dollars / ton narrow range, the trend is relatively light, the end of the session leaked low touched 2240 US dollars / ton, European trading session Lun aluminum slightly upward touched 2273 US dollars / ton, but the upper subject to the pressure of the 20-day line, and then still fell back to the daily moving average, as of 17:16, Lun aluminum reported 2253 US dollars / ton, pay attention to the US ADP employment data, if there is no emergency, It is expected that Lun aluminum will maintain a volatile pattern
.
In terms of spot, before the afternoon, the Shanghai transaction concentration was 14300~14320 yuan / ton, the discount for the month was 30~20 yuan / ton, the Wuxi transaction concentration was 14300~14320 yuan / ton, and the Hangzhou transaction concentration was 14330~14350 yuan / ton
.
Although the policy of reducing VAT to 16% began this week, the decline in spot discount is not very compatible with the VAT reduction policy, middlemen are worried that the discount continues to expand, the receipt is cautious, downstream enterprises do not agree with this price, only according to just need to purchase, the overall supply and demand sides of the deadlock, trading light
.
Industry information, the US Treasury will extend Rusal holding person Oleg? Deadline for Deripaska to divest from En+
.
The Treasury Department is authorizing shareholders to divest or transfer their shares from RUSAL, EN+ Group and GAZ Group until June 6
, the Treasury Department said in a statement late Tuesday.
On the whole, the price of Shanghai aluminum is at a high level, downstream demand is gradually improving, and the price of alumina has risen, increasing the cost of
electrolytic aluminum.
In the short term, it is expected that aluminum prices will maintain a volatile market, continue to observe the progress of the Rusal incident and changes in domestic supply and demand, the main contradiction in the market is not prominent, and the price is difficult to go unilaterally
.
Technically, the 5-day moving average crosses the 20-day moving average to form a dead cross, and the KDJ indicator falls out of the oversold area and is expected to run in the main force of Shanghai aluminum 1806, with an operating range of 14200-14800, for reference
only.
