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On Monday, the main contract of Shanghai aluminum 1708 bottomed out, partially reducing the intraday decline, intraday trading at 13840-13935 yuan / ton, the end of the day closed at 13895 yuan / ton, up 0.
29%, its performance is still weaker than copper nickel and other 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 1708 and 1709 contracts remained slightly at 75 yuan / ton
.
External: LME aluminum oscillation rebound, but the rise is limited, far lagging in copper-nickel and other metals, of which 3-month Lun aluminum trading at 1877-1865 US dollars / ton, now slightly up 0.
32% to 1871 US dollars / ton, still close to the previous pullback low of 1866 US dollars / ton, the current Lun aluminum initially fell below the moving average group, the technical form is weaker than Shanghai aluminum, because the US crude oil futures fell to Lun aluminum more pressure
.
Macro: The Asian dollar index has been trading at a week-long low and is now trading around
97.
2.
U.
S.
new home sales rose 2.
9% annualized m/m in May, 3.
7% expected, and revised upwards to a decline of 7.
9%
in the previous month.
In addition, the preliminary Markit manufacturing PMI in the United States in June was 52.
1, the lowest since September last year, and the expectation was not 53, indicating a slowdown
in the expansion of the US manufacturing industry.
In the aluminum market, on June 26, SMM statistics domestic electrolytic aluminum social inventory, Shanghai area 265,000 tons, Hangzhou 89,000 tons, Wuxi 469,000 tons, South China Sea 289,000 tons, Gongyi 81,000 tons, the total inventory of the five places is 1.
193 million tons, an increase of 5,000 tons
from last Thursday.
In terms of market: on June 26, Shanghai aluminum trading concentrated 13690-13710 yuan / ton, the discount for the month was 130-110 yuan / ton, Wuxi transaction concentration was 13680-13700 yuan / ton, Hangzhou transaction concentration was 13690-13710 yuan / ton
.
Holders have stable shipments, spot discounts have expanded slightly, middlemen are willing to receive goods actively, downstream enterprises purchase on demand, and the overall transaction is more active, mainly from the contribution of
traders.
The Shanghai aluminum 1708 contract weakly oscillated to 13895 yuan / ton during the day, and it has not effectively broken through the upper moving average suppression, indicating that the bulls' confidence is slightly insufficient
.
It is recommended that Shanghai aluminum continue the range oscillation operation
.
The Shanghai aluminum 1708 contract can be sold high and low in the range of 13850-14100 yuan, and the stop loss is 150 yuan / ton
each.
