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On Tuesday, the main contract of Shanghai aluminum opened at 14640 yuan / ton in the morning, and the bulls actively entered the market at the beginning of the session to push up the aluminum price to break through the resistance of the moving average to touch 14710 yuan / ton, but then the average resistance appeared, driven by the long flat short entry, the aluminum price quickly fell back to the daily average of 14650 yuan / ton at a narrow range, closing at 14640 yuan / ton, and the Shanghai aluminum index position decreased by 7694 hands to 662706 lots
.
In terms of the external market, in the morning, Lun aluminum opened at 2299 US dollars / ton, after the opening of Lun aluminum performance is weak, slightly down to the low touched 2291 US dollars / ton, the lower average found support, then the low narrow range oscillation, the trend is light, into the European trading session, Lun aluminum slightly up, the high touched 2308 US dollars / ton, as of 16:57, Lun aluminum reported 2304 US dollars / ton, short-term is expected that Lun aluminum continue to fluctuate slightly stronger, pay attention to whether it can stand firm at the 2300 US dollars / ton integer mark
.
In terms of market, Shanghai transaction concentration is 14530~14550 yuan / ton, the discount for the month is 60~50 yuan / ton, Wuxi transaction concentration is 14530~14550 yuan / ton, Hangzhou transaction concentration is 14570~14580 yuan / ton
.
Shanghai Wuxi cargo holders have a positive attitude towards shipment, the spot discount has expanded slightly, the supply of circulation in Hangzhou is tight, the willingness of middlemen to receive goods has been improved, and downstream enterprises purchase on demand, and the overall transaction is acceptable
.
In the late afternoon, aluminum fluctuated in a narrow range that month, and East China traded 14540~14550 yuan / ton
.
Entering June, the orders of processing enterprises fell slightly month-on-month, new production capacity was put into operation one after another, the fundamental pressure of supply and demand increased month-on-month, and it is expected that the speed and magnitude of destocking will slow down, while overseas alumina prices have fallen, the export window is closed, and the domestic alumina fundamentals have marginally relaxed improvements, so domestic alumina prices have a certain degree of loosening expectations, and the government funds related to captive power plants for the cost increase is more of a medium and long-term impact, in the short term, cost support weakens month-on-month, and aluminum prices are expected to be under pressure in the medium term.
Short-term shocks
.
