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Trade Service
On Monday, the main monthly 1606 contract of Shanghai aluminum continued to fluctuate in a narrow range, opening at 11,950 yuan, intraday high of 12,010 yuan and low of 11,830 yuan, and closing at 11,955 at the end of the day, down 5 yuan / ton
from the previous trading day.
Within the day, the Doha talks fell short, the collapse of oil prices put pressure on base metals, Shanghai aluminum fell slightly, aluminum price momentum gradually weakened, there may be adjustments in the near future, it is recommended that investors can maintain a wait-and-see attitude
.
Externally: Asian Aluminum fluctuated in a narrow range around $1550 / ton, of which Shanghai aluminum closed slightly down 0.
13% to $1552 / ton, close to the high of more than a month, and is currently effectively stabilizing above the moving average group, showing its strong willingness to rise and resist falling to other base metals
.
Macro: The Asian dollar index fell slightly under pressure and is now trading around 94.
6, while U.
S.
crude oil futures continue to digest the bearish pressure caused by the abortion of the Doha frozen production agreement, and base metals are dragged back down
.
In addition, among China's 70 large and medium-sized cities in March residential sales price data, the number of rising cities is more than last month, 62 are up and 8 are down, and the overall increase is expanding, which to some extent improves China's aluminum market demand expectations in real estate, partially offsetting the pressure
of falling oil prices.
Market: On April 18, Shanghai aluminum trading concentrated 11940-11950 yuan / ton, discount 30-10 yuan / ton
.
Shanghai holders controlled shipments, and the aluminum period was not affected by the abortion of the crude oil freezing production agreement in the month, which fluctuated upward, increasing the bullish confidence of middlemen, and the willingness of middlemen to receive goods at low prices rebounded, and the overall transaction in Shanghai was active
.
Downstream companies waited and saw on Monday, and the overall transaction
cooled.
Hangzhou circulation spot decreased, and holders sold at high prices
.
The overall transaction is mainly concentrated on traders
.
Overall, in the past week, Shanghai aluminum has shown signs of high rise and weakness, weaker than Lun aluminum, short-term need to be wary of technical pullback demand, but benefiting from the previous period of aluminum inventory for many consecutive weeks, its decline space or limited
.
It is recommended that the Shanghai-aluminum 1606 contract can be sold high and low between 11800-11980 yuan / ton, and the stop loss is 100 yuan / ton
each.
