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Today's Shanghai aluminum main contract 1707 continued to fall under pressure, weaker than other base metals, intraday trading at 14030-13900 yuan / ton, the end of the close at 13910 yuan / ton, down 0.
57% daily, the current Shanghai aluminum operating range is getting narrower, the risk of decline increases
.
At the same time, the positive price difference between Shanghai-aluminum 1706 and 1707 contracts widened to 60 yuan / ton
.
External market trend: LME aluminum fell under pressure today, of which 3-month Lun aluminum fell 0.
44% to 1930 US dollars / ton, the current Lun aluminum technology form slightly resisted the decline in Shanghai aluminum, the technical support below focus on 1900 US dollars / ton
.
Macro: The Asian dollar index continued to fall under pressure and is now trading around 96.
85, hitting another more than six-month low
.
The US Chicago Fed National Activity Index came in at 0.
49 in April, higher than the expected 0.
11 and 0.
07
in March.
Aluminum industry information, customs data show that China's bauxite imports from January to April were 19.
502 million tons, an increase of 9.
47% year-on-year, of which bauxite imported from Guinea was 7.
173 million tons, up 177.
23%
year-on-year.
In terms of market: on May 23, Shanghai aluminum trading concentrated 13760-13780 yuan / ton, the discount for the month was 110-100 yuan / ton, and Wuxi trading concentrated 13760-13790 yuan / ton
。 Holders have a positive attitude to shipment, with the stabilization of aluminum in the later period, coupled with the increase in the willingness of downstream enterprises to receive goods, the attitude of holders to raise prices, spot prices rose slightly, traders are mainly downstream to receive goods, downstream enterprises are willing to receive goods positively, this is because the spot price fell below 13800 yuan / ton, reaching the downstream to buy the psychological price, downstream enterprises prepare goods in advance Dragon Boat holiday, in addition to the end of the month invoice factor, the overall transaction is warmer
than yesterday.
During the day, the Shanghai aluminum 1707 contract was under pressure to 13910 yuan / ton, partly dragged down by the decline of other base metals in the surrounding area, indicating that the upper selling pressure is heavier, and the short-term operation idea may gradually turn to the bearish
.
In operation, it is recommended that the Shanghai aluminum 1707 contract can be backed by 14150 yuan below the sky, and the entry reference is around 14000 yuan, and the target is 13850 yuan
.
