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Trade Service
Today's Shanghai aluminum main contract 1708 continued to fall under pressure, for two consecutive days, intraday trading at 13985-13755 yuan / ton, the end of the close at 13765 yuan / ton, down 1.
01%, weaker than other base metals, some cut the recent gains, but at present Shanghai aluminum is still running at the interweaving of moving averages, the oscillation pattern has not changed
.
At the same time, the positive price difference between Shanghai aluminum 1708 and 1709 contracts remained slightly at 65 yuan / ton
.
In terms of external trading, LME aluminum fell again today, continuing the overnight decline, showing that the upper selling pressure increased, of which 3-month Lun aluminum traded at 1874-1866.
5 US dollars / ton, now slightly up 0.
16% to 1869 US dollars / ton, close to the previous pullback low of 1869 US dollars / ton, the current Lun aluminum initially fell below the moving average group, the technical form is weaker than Shanghai aluminum, because the decline of US crude oil futures on Lun aluminum is even worse
.
On the macro front, the Asian dollar index fluctuated in a narrow range and is now trading around
97.
5.
U.
S.
existing home sales rose 1.
1% annualized in May, down 0.
4% expected and 2.
5% in the previous month, a stronger-than-expected
performance.
In addition, the People's Bank of China today withdrew a net withdrawal of 80 billion yuan in the open market, suspending 14-day and 28-day reverse repurchase operations
for three consecutive days.
In addition, in the aluminum market, as of June 22, SMM counted domestic electrolytic aluminum stocks, with a total of 1.
188 million tons in the five places, down 17,000 tons
from last Thursday.
In terms of the market, on June 22, Shanghai aluminum trading concentrated 13680-13710 yuan / ton, the discount for the month was 120-110 yuan / ton, Wuxi transaction concentration was 13680-13710 yuan / ton, Hangzhou transaction concentration was 13690-13710 yuan / ton
.
Traders are actively shipped, the discount has signs of expansion, the middleman is difficult to have room for operation, the aluminum period is down, the downstream enterprises are in a wait-and-see mood, the overall transaction is cold, from the perspective of the time period, first rise and then suppress.
During the day, the Shanghai aluminum 1708 contract was under pressure to pull back to 13905 yuan / ton, returning to the moving average intertwined operation, showing that long and short trading is cautious and the short-term trend is oscillating
.
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.
