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On Monday, the price of the main 1708 contract of Shanghai aluminum fluctuated all the way after the opening, after the morning dense trading range, the price continued to rise, and at the end of the afternoon straight up, the afternoon aluminum price continued to fluctuate in a narrow range, once rushed up 13820 yuan, as of the close of 13815 yuan, up 240 yuan, or 1.
77%.
Externally, the LME aluminum March contract opened at $1872, slightly lower to $1870.
5 after rebounding, and rose all the way to $1884 after continuing to fluctuate high, the highest intraday rushed up $1887.
5, closing at $1882, up $2, or 0.
11%.
In terms of the market, the mainstream trading hours of the spot market are active, after the daytime quotation, the spot price follows the futures price to rise rapidly, traders are slightly active in trading, the transaction remains active, the downstream has the willingness to chase up and receive goods, and the holders are rising while out, slightly reluctant to sell, smooth
shipments.
In terms of news, the recent revision of the aluminum industry pollutant emission standards, will strictly control fugitive emissions, the solicitation of opinions will be completed before June 22, good for the aluminum market, in addition, within a few days Xinjiang Development and Reform Commission issued the "Notice on Printing and Distributing the Special Supervision Plan for Illegal Projects in the Autonomous Region to Clean Up and Rectify the Electrolytic Aluminum Industry" in the industry quickly circulated, the bears are afraid of the power of relevant policies, have left the market to avoid risks, coupled with technical resonance, the main force of Shanghai aluminum also followed the trend to sharply pull up the closing Yang line, currently concerned about whether it can break through the pressure of the 20-day moving average, But weak fundamentals may bring some resistance
.
On the technical side, the main KDJ dead fork of Shanghai aluminum repeatedly built the bottom after the golden fork, MACD is about to be a golden cross, short-term price above the BOLL mid-track pressure, or will be at the high level of a slight pressure to fall back to finish, quotation or rise to around
13600 yuan / ton.
