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Today's Shanghai aluminum 1609 contract continued to fall under pressure, falling to 12070 yuan / ton at the end of the day, down 0.
41% from yesterday's closing price, the daily closing price hit a new low in nearly a month, and compared with the high of 12745 yuan / ton set in July has been retraced 5.
3%, the current Shanghai aluminum fell back to the moving average group to run, short-term decline risk increased
.
In terms of external trading: Asian Lun aluminum around 1595 US dollars / ton around a narrow range, showing a weak rebound, of which 3 months Lun aluminum slightly 0.
16% to 1598 US dollars / ton, from the recent high of 1703 US dollars / ton down 6.
12%, partly suppressed by technical pullback demand, but at present, Lun aluminum pullback to around M60, the decline slows down, short-term need to be vigilant of the possibility
of stabilization after the release of pullback risk.
Macro: U.
S.
June new home sales data performance much stronger than expected, overnight dollar index oscillation strengthened, Asian market dollar index continued high oscillation sorting, now trading around 97.
2, the market is currently focused on the Fed interest rate decision to be announced in the early hours of Thursday morning, expected to keep interest rates unchanged, before the base metals market long and short trading cautious
.
In terms of market: on July 27, Shanghai aluminum trading concentrated 12490-12510 yuan / ton, the premium for the month 200-210 yuan / ton
.
Shanghai holders inventory is low, the circulating source is still small, the willingness to raise the price is still more resolute, the spot premium remains around 200 yuan / ton, Wuxi holders stable shipments, the willingness to raise the price weakened, the circulating source is slightly looser than yesterday, although the middleman has an inquiry, but the high premium squeezes the profit margin, the willingness to replenish is still more cautious, the downstream consumption of inventory, the wait-and-see mood is strong, and the overall transaction is slightly entangled
.
Today's Shanghai aluminum 1609 contract oscillation fell slightly to 12070 yuan / ton, far weaker than other base metals, as bauxite imports from Guinea rose sharply in June, making up for the decline in Indonesian and Malay bauxite imports, increasing the pressure
on aluminum supply.
It is suggested that the Shanghai-aluminum 1609 contract can be backed by 12,300 yuan at a high altitude, with an entry reference of 12,150 yuan and a target of 12,000 yuan
.
