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June 6 Shanghai aluminum afternoon comment

 Last Update: 2022-12-10
 Source: Internet
 Author: User

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Overnight, the main force of Shanghai aluminum opened at 14635 yuan / ton, after briefly touching 14615 yuan / ton, the bulls fought short-term, the bears hedged, and the main force of Shanghai aluminum rose steadily, touching 14710 yuan / ton and closing at 14695 yuan / ton
.
The position decreased by 2152 lots to 223458 lots, the Shanghai aluminum 1808 contract increased its position by 3344 lots to 203842 lots, and the Shanghai aluminum index increased by 2476 lots to 674746 lots
.
The main force of Shanghai aluminum maintains a multi-moving average range oscillation pattern, and is expected to run 14600~14750 yuan / ton
within the day.
Spot discount 70~30 yuan / ton
.

Shanghai aluminum

In terms of news, China's main macroeconomic data for May will be released one after another, and most analysts expect industrial added value data to continue to improve, due to strong industrial production in May and steady consumption growth will continue
.
The optimistic domestic economic data indicates that the market demand is stable, which supports aluminum prices, and it is expected that today's aluminum will follow the
rise of aluminum.

Due to the low arrival volume, the downstream demand is stable and the inventory of aluminum solution continues to decline, providing support
for aluminum prices.
However, the market's concerns about the oversupply of electrolytic aluminum have not subsided, in addition, the price of anodes and other auxiliary materials and the price of alumina have been reduced, resulting in the weakening of the cost support of Shanghai aluminum, and the pressure above Shanghai aluminum is large, and it is expected that Shanghai aluminum will be mainly
volatile.
Therefore, it is recommended that the new order of Shanghai aluminum is still mainly wait-and-see
.

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