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Overnight, the outer aluminum market continued to fall under pressure, its operating range was 1673-1651 US dollars / ton, of which 3 months Lun aluminum fell 0.
69% to 1658 US dollars / ton, compared with this round of high of 1703 US dollars / ton has been pulled back 2.
64%, short-term pullback pressure has not been fully released, the lower support focus on 1630 US dollars / ton
.
Market: On July 18, Shanghai aluminum trading concentrated 12830-12850 yuan / ton, and the premium for the month was 70-80 yuan / ton
.
Aluminum in the month to 1608 contract, spot premium expanded by about 80 yuan / ton, after the month change, the holder tried to raise the spot premium, the price shipment, after the month change, the future aluminum shock of the month is weak, the middleman replenishment mentality is more cautious, mainly receive goods to the downstream, downstream on-demand procurement, the transaction is difficult to see the recovery, supply and demand reappear tug-of-war
.
In terms of inventories: as of July 18, LME aluminum stocks reported 2312050 tons, down 7,075 tons from last Friday, a decline of 83 consecutive trading days, hitting a low of 2302025 tons set on December 30, 2008; At the same time, as of July 15, the aluminum inventory in the previous period reported 144058 tons, a weekly decrease of 5,263 tons or 8.
76%, the sixteenth decrease in 17 weeks, a cumulative decrease of 197,000 tons, hitting a low since October 28, 2011 (113329 tons).
Overnight, the main contract of Shanghai aluminum fell under pressure to 12,460 yuan / ton, weaker than other base metals, indicating that it is facing strong selling pressure
above.
At the same time, the US dollar index oscillated strongly, and crude oil futures fell under pressure, which also weighed
on aluminum futures.
It is recommended that the Shanghai-aluminum 1609 contract can be backed by 12600 yuan below the high and short short, the entry reference is 12520 yuan, and the target is 12380 yuan / ton
.
