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On Monday, the main monthly 1608 contract of Shanghai aluminum opened at 11805 yuan, the intraday high was 11960 yuan, and the low was 11740 yuan, and the end closed at 11850, up 95 yuan / ton
from the previous trading day.
The news of the restart of production capacity has rekindled concerns about oversupply in the aluminum market, short-term investors' risk aversion is high, Shanghai aluminum is slightly higher, and the direction of the market after the holiday is not clear, and short-term aluminum prices are expected to maintain a volatile trend
.
Abroad, the US IBD and University of Michigan consumer confidence indexes in June were lower than the previous value, the dollar index fell slightly after the holiday, intraday aluminum rose slightly, and the upper support focused on $
1600.
At 17:27 Beijing time, the LME 3-month aluminum was $1,580, up $6 from the previous session
.
In terms of market, the spot trading price of Yangtze River was 12210-12250 yuan / ton during the day, which was flat; Guangdong South Reserve reported 12240-12340 yuan / ton, up 40 yuan / ton; Hua reported 12320-12340 yuan / ton, flat; The average domestic spot trading price is between
12200-12240 yuan / ton.
Today, the current aluminum is stable, and the holders are actively shipping, but the middlemen only receive a small number of goods, and the downstream on-demand procurement is the mainstay, and the overall transaction is average
.
In terms of news, the General Administration of Customs announced on June 8 that China exported 42 tons of unwrought aluminum and aluminum products in May, an increase of 20,000 tons from April and an increase of 2.
44% over May last year; The total export volume of unwrought aluminum from January to May was 190 tons, compared with 206 tons in the same period last year, a cumulative decrease of 7.
9%
year-on-year.
In the short term, domestic aluminum supply is still tight, inventory continues to decline, spot market volume has increased, and fundamentals remain warm
.
At the technical level, the Shanghai aluminum Bollinger Channel narrowed, under pressure on the Bollinger middle band, the upward momentum is lacking, and it is expected to maintain sideways volatility in the short term
.
