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Overnight the external aluminum market oscillation strengthened, the rise slightly expanded compared with recent days, of which the 3-month LME aluminum late session slightly rose 1.
12% to 1664 US dollars / ton, the daily closing price hit a high since July 20 last year, this week although London aluminum faced technical pullback demand, but its trend is obviously more resistant to the decline than other base metals, boosted by the weakening of the dollar and the strengthening of oil prices, the upper rebound resistance focuses on 1700 US dollars / ton
.
In terms of market: on April 28, Shanghai spot aluminum trading concentrated 12530-12550 yuan / ton, discount 10 yuan / ton to flat water, holders are eager to exchange cash, shipment attitude is positive, later with the stabilization of aluminum in the future, the shippers' shipment strength has been controlled, spot prices basically fell back to the spot price level last Friday, middlemen low replenishment active, downstream willingness to receive goods positive, overall transaction active
.
Inventories: As of April 28, LME aluminum stocks reported 2652475 tons, down 4,250 tons from yesterday and hitting a new low level since January 20, 2009; At the same time, as of April 22, the previous aluminum inventory reported 319381 tons, a weekly increase of 513 tons, the first increase in five weeks, but still close to the level
of February 26 this year.
Overall, the overnight Shanghai aluminum 1607 contract oscillated to 12620 yuan, but its performance is much weaker than other non-ferrous metals and London aluminum, short-term operation needs to be differentiated, and today is the last trading day before the holiday, it is recommended to be cautious
in long and short trading.
It is recommended that the Shanghai-aluminum 1607 contract can be backed by a cautious light position below 12,800 yuan, and the following target is 12,400 yuan
.
