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On Tuesday morning, the main force of Shanghai aluminum opened at 12195 yuan / ton, under the pressure of bears at the beginning of the session, Shanghai aluminum quickly fell below the 40-day moving average support, recording a daily low of 12115 yuan / ton, and then the long and short game under the Shanghai aluminum wide range oscillation ran below the daily average, and finally closed at 12120 yuan / ton
.
The main force of Shanghai aluminum has fallen through all moving average support, from the plate point of view, aluminum prices once up to near the daily moving average will be suppressed by bears, it is expected that the short-term Shanghai aluminum trend is weak, below pay attention to the 12,000 yuan / ton integer mark
.
In terms of the external market, Lun aluminum opened at 1606.
5 US dollars / ton in the morning, and the long and short began to compete around the daily moving average at the beginning of the Asian market, and the upper pressure was under pressure on the 5-day moving average resistance, and then affected by the weakness of domestic Shanghai aluminum, Lun aluminum slightly downward struggled on the daily moving average, entering the European trading session, the amplitude of Lun aluminum intensified, and the low touched the 1600 US dollars / ton integer mark
.
On the macro front, new home sales in the United States reached 592,000 units in June, the highest since February 2008, and 560,000 were expected, compared with 572,000 in the previous month of 551,000
.
3.
5% m/m, 1.
6% expected, -6%
prior.
Domestically, in the first half of this year, 17 regions and relevant central enterprises across the country launched the coal closure and withdrawal work, withdrawing a total of 72.
27 million tons of production capacity, but only completed 29%
of the annual target of 250 million tons.
In terms of the market, aluminum futures fluctuated to the downside
before noon that month.
Shanghai trading concentrated 12520-12530 yuan / ton, for the month premium 200-220 yuan / ton, Wuxi transaction concentrated 12510-12520 yuan / ton, Hangzhou transaction concentrated 12560-12580 yuan / ton
.
Social inventory fell slightly, inventory is low, holders are willing to raise prices resolutely, spot for the month premium broke 200 yuan / ton, profit margins are extremely limited, the situation of aluminum is not clear, middlemen cautiously replenish goods, in the face of high premium, downstream willingness to receive goods hesitant, supply and demand at both ends of the tug-of-war, inquiry atmosphere is active, but the overall transaction is more difficult
.
In the late afternoon, aluminum rose first and then suppressed, Shanghai transaction concentrated 12520-12530 yuan / ton, Wuxi holders are willing to ship, the transaction concentration is 12510-12520 yuan / ton
.
In summary, the Shanghai aluminum bulls and bears are cautious, and aluminum prices may maintain a weak and volatile pattern
in the short term.
In operation, it is recommended to wait and see, and the early short order can be partially or fully take profit and drop the bag for safety
.
