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On Friday, the main contract of Shanghai aluminum 1807 fluctuated in a narrow range around 14850 yuan / ton, with an operating range of 14770-14900 yuan / ton, and closed at 14840 yuan / ton at the end of the day, down slightly by 0.
3%
from the previous trading day's closing price.
In terms of term structure, Shanghai aluminum continued the positive arrangement of near, low, far and high, among which the positive price difference between Shanghai aluminum 1806 contract and 1807 contract widened to 85 yuan / ton
.
In terms of external trading, Asia Lun aluminum continued the narrow fluctuation trend of nearly two weeks, weaker than other base metals and Shanghai aluminum, as of 15:25 Beijing time, 3-month LME aluminum reported 2287 US dollars / ton, down 0.
17% per day, at present, Lun aluminum has not completely got rid of the recent oscillation range, highlighting the caution of long and short trading, Lun aluminum short-term operating range of 2250-2330 US dollars / ton
.
In terms of the market, on May 18, Shanghai aluminum traded 14630-14650 yuan / ton, and the discount was 90-80 yuan / ton
in the month.
Wuxi spot transaction is 14630-14640 yuan / ton, Hangzhou spot transaction is 14670-14680 yuan / ton, downstream receiving is mainly on demand, and the willingness of holders to ship is increased, resulting in greater shipping pressure
.
The discount in Gongyi market continued to expand, and the actual transaction was around 90 yuan / ton for East China, which was nearly 50 yuan / ton higher than the discount at the beginning of the week, and some smelters concentrated on shipments, which caused the main reason
for the expansion of the discount.
On the macro front, the Asian dollar index traded in a narrow range and is now trading around 93.
36, near the year's high of 93.
632 hit this week, as the yield on the US 10-year Treasury note climbed
further.
Negotiations between the Chinese Foreign Ministry and the United States are still ongoing and require further attention
.
In terms of industry, data from the National Bureau of Statistics showed that the output of primary aluminum in April this year was 2.
771 million tons, an increase of 1.
1% year-on-year, and the cumulative output from January to April was 10.
891 million tons, a slight increase of 0.
2%
year-on-year.
During the day, the Shanghai aluminum 1807 oscillation sorted out to 14840 yuan / ton, initially returning to the operation above the moving average group, but due to the further expansion of China's primary aluminum production in April, it may limit the rise in aluminum prices
.
Operationally, it is recommended that the Shanghai-aluminum 1807 contract can be sold high and low between 14750-14900 yuan / ton, and the stop loss is 100 yuan / ton
each.
