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Today's Shanghai aluminum continued to decline, the 1608 contract fell to 11655 yuan / ton at the end of the day, down 1.
06% from yesterday's closing price, the daily closing price hit the low point of April 8 this year, down 10.
1% from the high of this round of rebound of 12965 yuan / ton, and the current Shanghai aluminum has fallen below the support
of M60.
In the external market, today's Asian Lun aluminum oscillation rose slightly, the performance slightly resisted the decline of other base metals, of which the 3-month Lun aluminum fell slightly by 0.
1% to 1553.
5 US dollars / ton, continuing the low oscillation trend
in the past two weeks.
Macro: U.
S.
Markit services PMI final value in May was 51.
3, worse than expected, while the ISM non-manufacturing index fell to 52.
9 in May, the lowest since February 2014, worse than expected and prior
, data released overnight.
Poor services data further lowered expectations of a Fed rate hike in June, and the Asian dollar index fell under pressure to around
93.
88.
Market: On June 7, Shanghai aluminum trading concentrated 12140-12160 yuan / ton, and the discount for the month was 20-30 yuan / ton
.
Holders shipped stable, aluminum rebounded after a sharp decline, middlemen were willing to replenish at low prices, spot prices fell sharply compared with yesterday, downstream enterprises prepared for the Dragon Boat Festival holiday, the willingness to receive goods rebounded sharply, and the overall transaction volume was significantly warmer than yesterday
.
Industry: In order to prevent the impact of large imports of low-priced aluminum products on the domestic market, Indian aluminum manufacturers continue to propose that the government introduce relevant policies
.
Representatives from domestic aluminum companies asked the government to set a minimum import price to avoid a large amount of cheap aluminum flowing into the Indian market
.
Overall, the performance of Shanghai aluminum is weaker than that of other base metals and London aluminum, or mainly due to domestic power reform and the resumption of production of alumina and electrolytic aluminum plants
.
It is recommended that the Shanghai aluminum 1608 contract can be sold high and low between 12100-11700 yuan / ton, and the stop loss is 100 yuan / ton
each.
