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June 8 aluminum market morning review

 Last Update: 2022-12-02
 Source: Internet
 Author: User

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The overnight external aluminum market climbed strongly, of which 3-month Lun aluminum rose 0.
64% to $1565 / ton
.
At present, the operating range of Lun aluminum is getting narrower, indicating that the long-short breakthrough is imminent, and the lower support of Lun aluminum is 1530 US dollars / ton, and the upper resistance is 1600 US dollars / ton
.

Aluminum City

Market: On June 7, Shanghai aluminum trading concentrated 12140-12160 yuan / ton, and the discount for the month was 20-30 yuan / ton
.
Holders shipped stable, aluminum rebounded after a sharp decline, middlemen were willing to replenish at low prices, spot prices fell sharply compared with yesterday, downstream enterprises prepared for the Dragon Boat Festival holiday, the willingness to receive goods rebounded sharply, and the overall transaction volume was significantly warmer than yesterday
.

Inventories: LME aluminium stocks were reported at 2494975 tonnes as of June 7, down 6,650 tonnes from yesterday and close to the low of 2485275 tonnes set on January 16, 2009; In the same period, the aluminum inventory in the previous period reported 228534 tons, a weekly decrease of 18,093 tons or 7.
33%, the tenth decrease in eleven weeks, close to the low point since March 27 last year
.

The Shanghai aluminum 1608 contract oscillated overnight to 11,710 yuan / ton, outperforming Lun aluminum and other base metals, as short-term aluminum prices continued to weaken and faced demand for technical correction
.
Today is the last trading day before the holiday, it is recommended that the main contract of Shanghai aluminum can seek to reduce its position above 11750 yuan to avoid holiday risks
.

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