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Trade Service
On Tuesday, the main contract of Shanghai aluminum 1809 jumped high and high, running in the range of 14385-14265 yuan / ton, and closed at 14335 yuan / ton at the end, up 0.
63% per day, stronger than Lun aluminum
.
At the same time, the term structure of the aluminum market maintained a positive arrangement of near, low, far high, and the positive price difference between Shanghai aluminum 1809 and 1808 contracts remained at 75 yuan / ton
.
In the external market, Asia Lun aluminum followed other base metal oscillations higher, of which as of 16:09 Beijing time, 3-month Lun aluminum reported 2075 US dollars / ton, up 0.
48% per day, for the third consecutive day higher, initially stabilized above the 10-day moving average, and its upper rebound resistance focused on 2100 US dollars / ton
.
In terms of the market, on July 24, Shanghai aluminum trading concentrated 14110-14130 yuan / ton, the discount for the month was 90-80 yuan / ton, Wuxi transaction concentration was 14110-14130 yuan / ton, Hangzhou transaction concentration was 14120-14140 yuan / ton
.
Spot stickers moved under water, cargo holders were slightly controlled in shipments, middlemen were cautious in stocking, downstream enterprises were afraid of heights, kept wait-and-see, and the overall transaction remained sluggish
.
On the macro front, the Asian dollar index retreated and is now trading around 94.
61, and the US 10-year Treasury yield rose to 2.
96% overnight, hitting a five-week high, as market expectations for the Fed to raise interest rates twice more times this year were strong
.
The market is now focused on the US Q2 GDP
, which will be released on Friday.
Aluminum industry information, the Ministry of Industry and Information Technology said that strictly control the new production capacity of steel, coking, electrolytic aluminum, casting, cement and other key areas in Beijing-Tianjin-Hebei and surrounding areas, Yangtze River Delta, Fenwei Plain and other key areas, never allow illegal construction of new projects, strictly implement the capacity replacement methods of steel, cement, flat glass and other industries, and never allow the implementation of the same amount of replacement of backward production capacity
.
During the day, the Shanghai aluminum 1809 oscillation closed up to 14335 yuan / ton, returning to the level of more than a month ago, indicating that its willingness to rise climbed, as domestic aluminum inventories continued to decline, indicating that downstream consumption has improved
.
In terms of operation, it is recommended that the Shanghai aluminum 1809 contract is backed by 14220 yuan above the dip, enter the market for reference around 14300 yuan, and target 14500 yuan
.
