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On Friday, the main contract of Shanghai aluminum 1710 fell into high oscillations for the second consecutive day, trading at 16275-15930 yuan / ton during the day, closing at 16090 yuan / ton, up slightly 0.
03% per day, so far this week, Shanghai aluminum rose 8.
97%, the performance continued to be stronger than other base metals, continue to be driven by market speculation aluminum market supply-side reform process, the current Shanghai aluminum rebound pattern is still good
.
At the same time, the positive price difference between Shanghai aluminum 1709 and 1710 contracts narrowed to 80 yuan / ton
.
In terms of external trading, LME aluminum fell into high oscillations for the third consecutive day, of which 3 months Lun aluminum traded in 2018-2038 yuan / ton, now slightly down 0.
02% to 2033 US dollars / ton, up to now this week Lun aluminum has risen nearly 6.
6%, hitting a high since November 12, 2004, the rise is obvious
.
On the macro front, the Asian dollar index rebounded and is now trading around 93.
7, still close to its low since May 2016
.
During the day, the People's Bank of China carried out a 7-day reverse repurchase operation of 50 billion yuan in the open market and a 14-day reverse repurchase operation of 40 billion yuan, continuing to release liquidity
to the market.
At the same time, it is also necessary to pay attention to China's July credit data
during the day.
In terms of aluminum market, the Ministry of Environmental Protection: On August 11, the Central Eighth Environmental Protection Supervision Group inspected the Xinjiang Uygur Autonomous Region and the Xinjiang Production and Construction Corps work mobilization meeting held
in Urumqi.
According to the arrangement, the inspectors of the Central Eighth Environmental Protection Supervision Group will be stationed for about one month
.
In terms of the market, the transaction price in Shanghai on August 11 was concentrated in 15730-15790 yuan / ton, the discount for the month was 210-190 yuan / ton, Wuxi transaction concentration 15720-15780 yuan / ton, Hangzhou morning transaction concentrated 15770-15780 yuan / ton, the afternoon market fluctuations are more violent, although close to delivery, but the next month price spread has not narrowed, holders shipments are more active, middlemen trading is relatively active, but subject to the decline in orders and the weak reason for aluminum, The downstream has not yet shown the purchasing willingness that should be made by the weekend warehouse, the overall transaction in East China is light during the day, the pullback has not stopped, and the wait-and-see atmosphere is strong
.
During the day, the Shanghai aluminum 1710 contract was weakly sorted out to 16090 yuan / ton, and the performance was significantly resistant to the decline of other base metals, while running with the increase and contraction, showing that long and short positions were mainly
wait-and-see.
Against the background that aluminum prices have risen by more than 10.
5% this month, short-term attention is paid to the risk
of technical correction in aluminum prices.
In terms of operation, short-term chasing needs to be cautious, it is recommended that the Shanghai aluminum 1710 contract can be sold high and low in the range of 15800-16300 yuan, and the stop loss is 200 yuan / ton
each.
