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Overnight, the outer aluminum market bottomed out, performing better than other base metals and Shanghai aluminum, of which 3-month Lun aluminum rose 0.
73% to $1655 / ton, up 1.
65% from the intraday low of $1628 / ton, short-term aluminum prices fell into a range oscillation trend, operating range attention to 1600-1680 US dollars / ton
.
In terms of market: on July 5, Shanghai traded 12770-12790 yuan / ton, and the premium for the month was 20-30 yuan / ton
.
Overnight aluminum fell sharply in the month, Shanghai holders are willing to exchange cash, active shipments, the circulation of goods is more than in the past, the second period of trading, middlemen low price replenishment willingness is positive, Shanghai sources are quickly digested by the market, downstream on-demand procurement, the overall transaction is warmer than yesterday, concentrated among
traders.
In terms of stocks: as of July 5, LME aluminum stocks reported 2368250 tons, down 6,825 tons from yesterday and close to the low set on January 6, 2009 (2,357,100 tons); In the same period, the aluminum inventory in the previous period reported 163664 tons, a weekly decrease of 21,289 tons or 11.
51%, the fourteenth decrease in 15 weeks, a cumulative decrease of 178,000 tons or 52%, hitting a low since November 11
, 2011.
The main contract of Shanghai aluminum fell to 12,385 yuan overnight, the third consecutive day of correction, weaker than Lun aluminum, as short-term aluminum prices continued to strengthen after facing technical corrections, and aluminum prices rose pressure on domestic aluminum enterprises to resume production
.
It is recommended that the Shanghai aluminum 1609 contract can be sold high and low between 12300-12500 yuan, and the stop loss is 100 yuan / ton
each.