Shanghai aluminum extended its decline, indicating heavier selling pressure above

Externally: LME aluminum continued to fall under pressure today, of which 3-month Lun aluminum traded at 1910-1892 US dollars / ton, now down 0.
32% to 1897 US dollars / ton, fell below the integer support of 1900 US dollars / ton, fell to the low point on May 12 this year, and the technical support below focused on 1860 US dollars / ton
.

Macro: The U.
S.
dollar index fluctuated weakly overnight, retreating and trading around 96.
7 this morning, near a new low
in more than six months.
U.
S.
durable goods orders fell 0.
8% m/m in April, down 0.
5% expected and down 0.
7% in March, while the US ISM non-manufacturing PMI came in at 56.
9 in May versus 57.
1 expected and 57.
5 in April, indicating a slight slowdown
in U.
S.
non-manufacturing expansion.
Watch the ECB interest rate meeting and the UK election
this week.

In terms of market: on June 6, the Shanghai transaction concentration was 13580-13590 yuan / ton, the discount for the month was 50-40 yuan / ton, the Wuxi transaction concentration was 13570-13590 yuan / ton, and the Hangzhou transaction concentration was 13580-13600 yuan / ton
.
Due to the sharp fall of aluminum overnight, the spot discount narrowed slightly, at the same time, the market circulation source increased, downstream enterprises purchased on demand, middlemen had no obvious willingness to stock up, the performance was more cautious, the overall transaction was general, mainly focused on actual demand
.

During the day, the Shanghai aluminum 1707 contract continued to fall to 13675 yuan / ton under pressure, further confirming that the short-term aluminum price chose to run downward, getting rid of the oscillating trend
of nearly a month.
It is recommended that the Shanghai aluminum 1707 contract can be backed by 13820 yuan below the sky, the entry reference is around 13720 yuan, and the target is 13550 yuan / ton
.