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Overnight, the main force of Shanghai aluminum was changed to 1808 contract, opened at 14910 yuan / ton, after the opening of the bulls intervened to try to repair the intraday decline, the high touched 14970 yuan / ton, after the long and short there was a game, after the month was not clear before the introduction of the captive power plant plan, the pressure above the upper Wanwu mark is still large, Shanghai aluminum maintained range oscillation, the end of the session short-term long and short are out of the market, the low touched 14875 yuan / ton, the shock closed at 14915 yuan / ton
.
The position volume decreased by 4614 lots to 249740 lots, and the Shanghai index reduced its position by 24 lots to 700180 lots
.
It is expected to run 14800~15000 yuan / ton
today.
Discount 50~10 yuan / ton
.
Customs data showed that unwrought aluminum and aluminum exports in May were 485,000 tons, an increase of 34,000 tons
from the previous month.
From January to May, the cumulative export volume was 2.
205 million tons, an increase of 13.
1%
year-on-year.
Strong exports have done a good job
in improving domestic fundamentals.
Recently, there has been frequent news on domestic captive power policy, the latest news said that 45 units of Weiqiao captive power plant were illegally built, 12 units were shut down, and various dues
funds were avoided.
The report also involved the problem of
Shandong Xinfa illegally backing up electricity.
Self-provided power rectification will undoubtedly increase the cost of some aluminum plants, but whether it will affect the operation of electrolytic aluminum remains to be seen
.
Short-term domestic fundamentals are still improving, coupled with policy news stimulation, aluminum prices have strong support
.
Overall, the market's concerns about the oversupply of electrolytic aluminum have not subsided, in addition, the United States relaxed sanctions against Rusal and market rumors that Hydro resumed production ahead of schedule, resulting in a sharp decline in overseas alumina prices, the closure of the domestic alumina export window, there is a risk of price reduction, thereby weakening the cost support of electrolytic aluminum, Shanghai aluminum upward resistance is greater, so it is recommended that Shanghai aluminum new orders temporarily wait and see
.
