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On Monday, the main contract of Shanghai aluminum 1707 fell under pressure, intraday trading at 13880-13655 yuan / ton, the performance was far worse than copper and zinc, the end of the close at 13745 yuan / ton, down 0.
33% daily, the current aluminum price chose to fall to break, indicating that the upper selling pressure is heavier, the risk of decline increases
.
At the same time, the positive price difference between Shanghai-aluminum 1706 and 1707 contracts remained at 75 yuan / ton
.
In terms of external trading, LME aluminum continued to fall under pressure, of which 3 months Lun aluminum traded at 1933-1915 US dollars / ton, now down 0.
57% to 1920 US dollars / ton, fell back to the moving average intertwined operation, but the current Lun aluminum technology form is stronger than Shanghai aluminum, the technical support below is 1900 US dollars / ton
.
On the macro front, the dollar index continued to fall under pressure overnight, and the Asian market traded around 96.
7, hitting a new low in more than six months, as the number of non-farm payrolls in the United States rose by 138,000 in May, below market expectations of 185,000, but the unemployment rate fell to 4.
3%, down from 4.
4% in the previous month and hit a 16-year low
.
Watch the ECB interest rate and the UK elections
on Thursday.
Aluminum industry information, on June 5, domestic electrolytic aluminum social inventory, Shanghai area 269,000 tons, Wuxi 446,000 tons, Hangzhou 82,000 tons, Gongyi 77,000 tons, South China Sea 324,000 tons, the total inventory of the five places is 1.
198 million tons, an increase of 06,000 tons
from last Thursday.
In terms of the market, on June 5, Shanghai aluminum trading concentrated 13670-13680 yuan / ton, the discount for the month was 70-60 yuan / ton, Wuxi transaction concentration was 13660-13680 yuan / ton, Hangzhou transaction concentration was 13670-13690 yuan / ton
.
The market circulation of goods increased, but due to the high price of traders' long orders, so the holders showed a certain willingness to hold the price, the middlemen speculated more cautiously, the high level of aluminum fell, downstream enterprises wait-and-see sentiment breeded, the overall transaction showed the characteristics
of wait-and-see on Monday.
During the day, the Shanghai aluminum 1707 contract continued to fall to 13745 yuan / ton under pressure, indicating that short-term aluminum prices have chosen to run downward, getting rid of the oscillating trend
of nearly a month.
It is suggested that the Shanghai aluminum 1707 contract can be backed by 13880 yuan below the sky, the entry reference is around 13800 yuan, and the target is 13650 yuan / ton
.
