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On Wednesday, the Shanghai aluminum 1708 contract opened at 13780 yuan / ton in the morning, after the opening, the long and short game under the Shanghai aluminum wide range shock downward, the afternoon surrounding metal dived, Shanghai aluminum is even lower touched 13710 yuan / ton, the end of the session short cover, aluminum price repair slightly down to close at 13750 yuan / ton, trading volume reduced to 110030 lots, position increased by 11276 hands to 201654 lots
.
The support of the lower band of the Bollinger band has begun to appear, and the view of weak short-term Shanghai aluminum shock remains unchanged
.
In terms of the external market, Lun aluminum opened at 1901.
5 US dollars / ton in the morning, the performance of Lun aluminum at the beginning of the session was acceptable, slightly touched 1908 US dollars / ton, 9 points domestic opening, Lun aluminum by the domestic market traction shock down, the low touch 1896.
5 US dollars / ton, and then opened a stepped upward, as of 16:46, Lun aluminum reported 1908.
5 US dollars / ton, pay attention to EIA crude oil data, it is expected that Lun aluminum has a high probability of rushing back down
.
On the news front, the oversupply of crude oil in many parts of the world and the development of the situation in Qatar have unnerved traders, even though Kuwait's oil minister Marzouk has said that Qatar still abides by supply agreements reached between OPEC and a number of non-OPEC countries to limit crude oil production
.
Gold prices climbed to a seven-month high on Tuesday, helped by the dollar's fall to a seven-month low, safe-haven demand over diplomatic clashes in the Middle East, as well as the upcoming European Central Bank meeting and the British election
.
The uncertainty surrounding the Senate testimony of former FBI Director Comey also prompted investors to buy gold as a safe haven
.
In terms of the market, the aluminum period did not stand firmly and fell back to the high at the beginning of the month, and it was repaired
after diving to 13610 yuan / ton at the end of the day.
Shanghai transaction concentration is 13580-13600 yuan / ton, the discount for the month is 40-30 yuan / ton, Wuxi transaction concentration is 13580-13600 yuan / ton, Hangzhou transaction concentration is 13600-13610 yuan / ton
.
Holders have a positive attitude towards shipments, spot discounts are stable, the downward pressure of aluminum is gradually increasing, there is no speculative operation space for middlemen, downstream enterprises purchase on demand, and in June, downstream demand is further weakened, and the overall transaction is poor
.
In the late afternoon, aluminum continued to fall to 13590 yuan / ton in the month, and the end of the day was slightly repaired, and the transaction price moved down to 13570-13580 yuan / ton
.
During the day, the main 1708 contract of Shanghai aluminum fluctuated slightly, the tail market 13750 aluminum price will continue to fall in the short term, 14000 is the main pressure in the medium term, short-term 13500 support, short orders appropriate take profit, rebound and short, maintain short thinking
.
