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Today's Shanghai aluminum main contract 1709 bottomed out strongly, the performance resisted the decline in Lun aluminum, intraday trading at 14195-14005 yuan / ton, the end of the day closed at 14185 yuan / ton, a slight increase of 0.
07% per day, the current Shanghai aluminum effectively stabilized above the main moving average group, short-term can still hold more ideas
.
At the same time, the positive price difference between Shanghai aluminum 1708 and 1709 contracts remained at 95 yuan / ton
.
In terms of external trading, LME aluminum rebounded slightly today, of which 3-month Lun aluminum traded at 1906-1895 US dollars / ton, now slightly up 0.
29% to 1901 US dollars / ton, compared with yesterday's high 1.
81% decline, indicating that its rebound is very weak
.
At present, Lun aluminum has fallen below the main moving average group, indicating heavier
selling pressure above.
On the macro front, the Asian dollar index continued to fluctuate in a narrow range around 96.
1, oscillating in a range for a consecutive week, indicating a slight
slowdown in its short-term correction risk.
In addition, the People's Bank of China conducted a 40 billion yuan reverse repurchase operation today, while 460 billion yuan of liquidity expired this week, indicating that the capital situation tends to be tight, and the central bank has suspended open market operations
for 12 consecutive trading days.
In the aluminum market, as of July 10, the total social inventory of electrolytic aluminum in five domestic places was 1.
238 million tons, an increase of 20,000 tons
from last Thursday.
In terms of the market, on July 11, Shanghai aluminum trading concentrated 13810-13820 yuan / ton, the discount for the month was 80-70 yuan / ton, Wuxi transaction concentration was 13810-13820 yuan / ton, Hangzhou transaction concentration was 13820-13840 yuan / ton
.
Due to the preservation of value, the spot discount narrowed, the holders actively shipped, the middlemen mainly received goods downstream, the spot price fell sharply, the downstream enterprises were willing to purchase at the bottom, and the overall transaction was warmer than yesterday, and mainly focused on actual demand
.
The Shanghai aluminum 1709 contract oscillated to 14185 yuan / ton during the day, and the short-term rebound pattern remained good, which means that bulls' confidence has further climbed, as the market hopes that the domestic electrolytic aluminum supply reform will enter the implementation stage
.
It is recommended that Shanghai Aluminum maintain more ideas
.
The Shanghai aluminum 1709 contract can hold the long order previously established around 14050 yuan above 13950 yuan, and the target reference is 14300 yuan
.
