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Today's Shanghai aluminum main contract 1708 rose strongly for the second consecutive day, trading at 13740-14030 yuan / ton during the day, closing at 13995 yuan / ton, up 1.
3% per day, far stronger than other base metals, but at present, Shanghai aluminum is still running at the interweaving of moving averages, and the oscillation pattern has not changed
.
At the same time, the positive price difference between Shanghai aluminum 1707 and 1708 contracts remained slightly at 65 yuan / ton
.
In terms of the external market, LME aluminum rushed back down again today, showing that there is still some selling pressure above, of which 3-month Lun aluminum traded at 1910-1886 US dollars / ton, now up slightly 0.
56% to 1899 US dollars / ton, up 1.
6% from the low of 1869 US dollars / ton, but the performance is weaker than Shanghai aluminum, and the technical support below is 1862 US dollars / ton
.
Macro: The Asian dollar index oscillated slightly and is now trading around
97.
6.
The People's Bank of China (PBOC) today suspended 14-day and 28-day reverse repurchase operations in the open market, and the market is still worried about the tightening of China's monetary policy
.
In terms of aluminum market, it is reported that the Xinjiang electrolytic aluminum special supervision plan has been introduced, the supervision time is June 20-25, the supervision area is Changji Prefecture and Tacheng area, the scope of clean-up and rectification is new illegal projects after May 2013 and projects that have not implemented the No.
1494 handling opinion, and the current 3.
58 million tons of potential non-compliant production capacity in Xinjiang is expected to become the focus of
supervision.
In terms of the market, on June 19, Shanghai aluminum trading concentrated 13520-13540 yuan / ton, the discount for the month was 100-80 yuan / ton, Wuxi transaction concentration was 13520-13540 yuan / ton, Hangzhou transaction concentration was 13520-13530 yuan / ton
。 Although the holders actively ship, but the willingness to raise the price is strong, unwilling to ship at a low price, the middleman is cautious and wait-and-see, mainly for the downstream to receive goods, although the aluminum period is upward, but considering the factors on Monday, and the downstream enterprises are not optimistic about the aluminum price, the wait-and-see mood is stronger; When the late trading rally, the holders were reluctant to sell, the middlemen were difficult to find the right source of goods, and the supply and demand sides were deadlocked
in the overall transaction wait-and-see.
The Shanghai aluminum 1708 contract rebounded strongly to 13995 yuan / ton during the day, returning to the moving average intertwined operation, indicating that long and short trading is cautious and the short-term trend is oscillating
.
It is recommended that the operation idea of Shanghai aluminum be changed from short to range trading
.
The Shanghai aluminum 1708 contract can be sold high and low in the range of 13900-14150 yuan, with a stop loss of 150 yuan / ton
each.
