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Today's Shanghai aluminum main contract 1705 oscillated rebound, but the performance is still stagnation in other base metals, closing at 13750 yuan / ton, up 0.
7% per day, partially cutting yesterday's decline, now barely stable above M60, above facing M20, that is, 14020 yuan / ton suppression
.
At the same time, the positive price difference between Shanghai-aluminum 1704 and 1705 contracts fell to 90 yuan / ton, indicating that the willingness of forward contracts to fall has climbed
.
Externally: Asian market Lun aluminum oscillation slightly rising, of which 3 months Lun aluminum rose 0.
51% to 1870 US dollars / ton, performance is weaker than other base metals, the current Lun aluminum initially fell below the lower average support, the risk of decline increased, upward resistance focus on 1900 US dollars / ton
.
Macro: The U.
S.
dollar index rebounded overnight, rising 0.
36% on a daily basis, and basically stabilized around 101.
68 this morning, and the market is currently focused on the Fed's interest rate decision in the early hours of Thursday morning, with strong expectations of interest rate
hikes.
In addition, the US PPI rose 2.
2% y/y in February, better than the expected 1.
9%, indicating that US inflationary pressures have increased, and also increased expectations
of interest rate hikes by the Federal Reserve.
Aluminum industry information, data from the National Bureau of Statistics showed that China's primary aluminum production in January-February was 5.
49 million tons, an increase of 15.
6% year-on-year, compared with a decline of 7.
7% in the same period last year, a year-on-year increase to a new high since January 2013, and primary aluminum production from January to February hit a historical high in the same period
.
Market: On March 15, Shanghai aluminum trading concentrated 13420-13450 yuan / ton, the discount for the month was 100-90 yuan / ton, Wuxi transaction concentration was 13420-13440 yuan / ton, Hangzhou transaction concentration was 13440-13460 yuan / ton
.
In the early stage of trading, the price was still low, and the holders controlled the shipment, and as the price of aluminum continued to rise, the holder was reluctant to sell, the quotation rose synchronously with the market, the market circulation source decreased, the middleman increased with the price increase, the purchase volume of downstream enterprises increased slightly, and the overall transaction was more active
.
The Shanghai aluminum 1705 contract rebounded to 13,750 yuan / ton during the day, which was much weaker than other base metals, and U.
S
.
crude oil futures fell under pressure due to its strong energy attributes.
In operation, the short-term Shanghai-aluminum 1705 contract can hold the idea of range oscillation, and it is recommended to sell high and low in the range of 13600-13800 yuan, and the stop loss is 100 yuan / ton
each.
