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Today's Shanghai aluminum main contract 1706 fell under pressure, mainly dragged down by the decline in surrounding commodities, the operating range was 14110-13970 yuan / ton, and the end closed at 13970 yuan / ton, down 0.
07% per day, but still barely stabilized above the moving average group, and the upper rebound resistance focused on 14100 yuan / ton
.
At the same time, the positive price difference between Shanghai-aluminum 1705 and 1706 contracts was flat to 110 yuan / ton
.
Externally: Aluminium fluctuates in a narrow range around $1920 / ton, showing a weak rise at a high level, and the risk of pullback increases, of which 3-month aluminum rose slightly by 0.
13% to $1924 / ton, and the technical support below is concerned about $1900 / ton, and the current aluminum is still stable above the moving average group, and its upper rebound resistance is concerned about $2000 / ton
.
Macro: The dollar index retreated slightly overnight, and the Asian market continued to trade around
101.
05.
In addition, China's foreign exchange reserves rose to US$3,009.
1 billion in March versus US$3,011 billion expected, the first two-month increase since April last year, indicating that the pressure on domestic capital outflows has eased
.
Chinese aluminum manufacturers are expected to increase exports in the coming months as improving global manufacturing conditions and falling inventories boost demand
.
Spot: On April 12, Shanghai aluminum trading concentrated 13770-13780 yuan / ton, the discount for the month was 120-90 yuan / ton, Wuxi transaction concentration was 13760-13780 yuan / ton, Hangzhou transaction concentration was 13780-13790 yuan / ton
.
Under the continuous pressure of high inventory, the cargo holder has a very positive attitude towards shipment, the circulation supply is sufficient, the middleman is looking for a high discount source, the appropriate receipt of goods, the spot price change is small, the downstream enterprises maintain stable receiving strength, the overall transaction shows that the demand remains unchanged, and the supply increases the pattern
.
Intraday Shanghai aluminum 1706 contract oscillation fell to 13970 yuan / ton, still barely running above the moving average group, but the risk of high pullback of Lun aluminum has expanded significantly, and the recent aluminum price performance has been resistant to falling to other base metals, under the pressure of the overall weak trend of the metal market, short-term need to pay attention to the possibility of aluminum prices to make up for the decline
.
It is recommended that the Shanghai aluminum 1706 contract can sell high and low between 13800-14050 yuan / ton, and the stop loss is 100 yuan / ton
each.
