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On Thursday, the main contract of Shanghai aluminum 1807 fell under pressure, the performance was much weaker than other base metals, the intraday operating range was 14745-14858 yuan / ton, and the end of the day closed at 14590 yuan / ton, down 0.
68% from the previous trading day's closing price, Shanghai aluminum fell back to the moving average intertwined operation, showing long and short trading cautious
.
In terms of term structure, Shanghai aluminum continued the positive arrangement of near, low, far and high, among which the positive price difference between the Shanghai aluminum 1807 contract and the 1808 contract narrowed to 80 yuan / ton
.
In terms of external disk, Lun aluminum around 2270 US dollars / ton around narrow fluctuations, of which as of 15:30 Beijing time, 3-month LME aluminum reported 2279 US dollars / ton, up slightly 0.
55% per day, at present Lun aluminum has not completely got rid of the recent oscillation range, highlighting the caution of long and short trading, Lun aluminum short-term operating range focus on 2230-2300 US dollars / ton
.
On the macro side, according to the Swiss "Cash" reported on the 30th, the temporary exemption of the United States to the EU steel and aluminum tariffs will expire on June 1, and EU Trade Commissioner Malmström will meet with US Commerce Secretary Ross and US Trade Representative Lighthizer in Paris on the 30th to make final efforts
to resolve trade disputes.
In addition, German Economy Minister Altmaier also intends to conduct "intensive negotiations" with the Americans in order to reach an "agreement"
of mutual interest.
However, Malmström himself and many media outlets are pessimistic about the outcome of the contact between Europe and the United States
.
On the 29th local time, EU Trade Commissioner Malmström said that if the United States decides to impose quota restrictions on the export of EU steel and aluminum products, the EU will implement corresponding countermeasures
.
The message is bearish
.
In terms of the market, on May 31, Shanghai aluminum trading concentrated 14590-14600 yuan / ton, the discount for the month was 60-50 yuan / ton, Wuxi transaction concentration was 14590-14600 yuan / ton, after diving, Shanghai Wuxi transaction price moved down to 14520-14550 yuan / ton, the discount for the month was 40-20 yuan / ton, Hangzhou transaction concentration was 14610-14620 yuan / ton
。 The diving occurs in the transaction concentration period, the spot discount narrows, the set keeps the cargo merchant shipment attitude positive, the middleman has no room for operation, the month-end factor superposition period aluminum diving, the downstream enterprises are in a wait-and-see mood, and the overall transaction is poor
.
In the aluminum market, on May 31, SMM statistics domestic electrolytic aluminum social inventory (including SHFE warehouse receipts): the total inventory of aluminum ingots in the consumption area was 2.
032 million tons, down 45,000 tons
from last Thursday.
During the day, Japan-Shanghai aluminum 1807 fell under pressure to 14590 yuan / ton, highlighting the weak performance of aluminum prices, because the supply side of the aluminum market did not perform as well as other base metals
.
Operationally, it is recommended that the Shanghai aluminum 1807 contract can be sold high and low between 14500-14700 yuan / ton, and the stop loss is 100 yuan / ton
each.
