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Today's Shanghai aluminum main contract 1708 under pressure decline, the decline significantly expanded, intraday trading at 13710-13485 yuan / ton, the end of the close fell to 13555 yuan / ton, down 0.
91% daily, the performance is much weaker than copper and zinc, the current Shanghai aluminum effective choice to fall to break, the daily closing price hit a new low since January 13 this year, showing that the bears have a clear advantage
.
At the same time, the positive price difference between Shanghai aluminum 1707 and 1708 contracts slightly widened to 75 yuan / ton
.
In terms of external trading, LME aluminum continued to decline overnight today, showing a surge and falling, of which 3-month Lun aluminum traded at 1886-1875 US dollars / ton, now slightly down 0.
21% to 1876 US dollars / ton, a new low in more than 1 month, indicating that the upper selling pressure is heavier, and the technical support below focuses on the previous low of 1862 US dollars / ton
.
On the macro front, the Asian dollar index rebounded and is now trading around
97.
1.
In the early hours of this morning, the Fed raised interest rates by 25 basis points to the level of 1%-1.
25% as scheduled, which is the second rate hike by the Fed this year, and the People's Bank of China kept the open market interest rate unchanged
during the day.
At the same time, the Fed said that if the US economic growth is generally in line with the Fed's expectations, it will begin the normalization of the balance sheet this year, and pay attention to the Bank of England interest rate meeting tonight, which is expected to keep interest rates unchanged
.
In terms of the market, on June 15, Shanghai spot trading volume of 13360-13380 yuan / ton, the month discount of 30 yuan / ton to flat water, Wuxi spot transaction concentration of 13360-13380 yuan / ton, Hangzhou spot transaction concentration of 13360-13380 yuan / ton, the period of aluminum fell sharply, some holders chose to sell wait-and-see, market circulation supply is limited, at the same time, some downstream and middlemen choose to bargain into the market procurement, the overall market transaction activity picked up
.
After the change of month, the supply of materials continues to be abundant, and today's transaction is about 100 yuan / ton for the next month's 1707 discount, which may be maintained
tomorrow.
In the aluminum market, on June 15, SMM statistics domestic electrolytic aluminum social inventory, Shanghai area 266,000 tons, Wuxi 472,000 tons, Hangzhou 85,000 tons, South China Sea 305,000 tons, Gongyi 77,000 tons, the total inventory of the five places 1.
205 million tons, down 02,000 tons
from last Thursday.
The Shanghai aluminum 1708 contract fell under pressure to 13,555 yuan / ton during the day, indicating that there is still heavy selling pressure
above.
As the Federal Reserve raised interest rates as scheduled and U.
S.
crude oil futures fell under pressure, this time the aluminum price chose to run downward, or triggered technical selling, short orders can still follow the trend
.
It is recommended that the Shanghai aluminum 1708 contract can be backed by 13750 yuan below the sky, the entry reference is around 13600 yuan, and the target is 13450 yuan / ton
.
