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On Tuesday, the main contract of Shanghai aluminum 1805 contract continued to decline, and the decline further expanded, intraday trading at 14110-13820 yuan / ton, the end of the close at 13860 yuan / ton, the daily plunge of 1.
46%, the closing price hit the low since May 12 last year, up to now Shanghai aluminum has fallen for two and a half months, from the end of December last year cumulative decline of nearly 11%, the performance is far weaker than other base metals
.
Shanghai aluminum continued the positive arrangement of near, low, far and high, of which the positive price difference between Shanghai aluminum 1804 contract and 1805 contract remained at 90 yuan / ton
.
In terms of the external market, Asian Lun aluminum rushed back down, highlighting the lack of rebound, of which 3 months Lun aluminum traded at 2099-2087 US dollars / ton, now closed at 2090 US dollars / ton, a slight decline of 0.
12% per day, the current Lun aluminum fell into a low oscillation finishing, showing that the upper selling pressure is heavier, the lower support focuses on the 200-day moving average, that is, 2080 US dollars / ton
.
In terms of the market, before the Shanghai aluminum dive in the morning of March 13, Shanghai aluminum trading concentrated 13710-13730 yuan / ton, the discount for the month was 50-40 yuan / ton, Wuxi transaction concentration was 13710-13730 yuan / ton, Hangzhou transaction concentration was 13720-13740 yuan / ton
.
Cargo holders are actively shipping, downstream enterprises are more willing to accept goods at low prices, the activity of intermediaries is stable compared with the previous day, and the overall transaction is better; After an instant dive of 100, the shipment strength of the holder weakened, the market quotation was 13630-13640, and the discount for the month was 40-30 yuan / ton, but it was close to closing, and there was almost no transaction
.
On the macro front, the Asian dollar index oscillated slightly, now trading around 90.
05, has not yet got rid of the recent oscillation trend, pay attention to the US inflation data in February, and the growth rate is expected to slow down from January, thereby increasing the market's expectations
that the Fed may slow down the pace of interest rate hikes.
In terms of industry, it is reported that Japanese aluminum buyers agreed to pay $129 / ton of premium to some aluminum producers around the world, reflecting the rise in US spot aluminum prices, up 25% from $103 / ton in the first quarter, the highest level in three years, and the second consecutive quarter of rise
.
During the day, Shanghai aluminum 1805 fell under pressure to 13860 yuan / ton, hitting a new low in recent times, as domestic inventories continued to reach new highs, supply pressure increased, and aluminum price rebound height was limited
.
However, after the price of aluminum continues to fall, it is necessary to be vigilant against the demand for technical rebound, especially Shanghai aluminum near the 14,000 yuan / ton mark, the trend has been repeated
.
It is recommended that the Shanghai aluminum 1805 contract can be sold high and low in the range of 13800-14000 yuan / ton, and the stop loss is 80 yuan / ton
each.
