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On Thursday morning, the main force of Shanghai aluminum opened at 14545 yuan / ton, the morning shock downward low touched 14500 yuan / ton, in the afternoon with the re-exertion of Lun aluminum, the short position closed, the main shock of Shanghai aluminum is strong, the high touched 14570 yuan / ton, closing at 14565 yuan / ton
.
Shanghai aluminum 1807 contract increased by 12426 hands to 265514 lots, the position exceeded 1806 contract for the first time, the phenomenon of backward movement of position is obvious, the total position of Shanghai aluminum is only 749,000 lots, further verifying that when the fundamentals and the Rusal event are significantly changed, the market is on the aluminum market, and Shanghai aluminum maintains a narrow range shock pattern
in the short term.
In terms of external trading, Lun aluminum opened at 2317 US dollars / ton in the morning, during the Asian session, the morning around the daily moving average narrow oscillation, the low touched 2306 US dollars / ton, at the end of the Asian session, Lun aluminum opened an upward mode, climbing 2354 US dollars / ton, as of 18:08, Lun aluminum recorded 2344.
5 US dollars / ton, Lun aluminum increased its position upward, standing on the 10-day moving average, holding the support of the bottom moving average, accumulating further upward, but the US dollar is still strong and high, wary of Shanghai aluminum opening weak and not following, dragging down Lun aluminum or giving up gains, Therefore, Lun aluminum may rise first and then suppress.
In terms of the market, aluminum fell before noon of the month
.
Shanghai transaction concentration 14400 ~ 14410 yuan / ton, the discount for the month 50 ~ 40 yuan / ton, Wuxi transaction concentration 14400 ~ 14410 yuan / ton, Hangzhou transaction concentration 14420 ~ 14440 yuan / ton
.
The shipment strength of cargo holders gradually weakened with the upward trend of the market, the willingness of middlemen to receive goods was positive, the downstream demand was general, and the overall transaction volume picked up from the previous day, mainly from the contribution of
traders.
In the late afternoon, aluminum rose, and the spot transaction moved up to 14430~14440 yuan / ton
.
On the macro front, the Asian U.
S.
dollar index retreated from its highs as the Fed's May interest rate decision was not new, and the market was disappointed by no more hawkish remarks, and is now trading around
92.
3.
At the same time, technically, the dollar index continues to strengthen and faces a pullback demand, and the lower support focuses on the 92 line
.
In addition, the market is focused on the outcome of the Sino-US trade negotiations and is expected to be optimistic
.
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.
Technically, the daily K line station on the 20-day moving average, KDJ indicator J line turned upward, it is expected that the main force of Shanghai aluminum 1806 oscillation operation, the operating range of 14200-14800, for reference
only.
