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On Tuesday, the Shanghai aluminum 1608 contract oscillated stronger, but near the end of the day fell slightly again, cutting some of the intraday gains, the end of the day closed up to 12385 yuan / ton, up 1.
77% from yesterday's closing price, the current Shanghai aluminum still effectively broke through to stabilize above M60, short-term rebound pattern remains
.
In terms of external trading, Asian Lun aluminum around 1615 US dollars / ton narrow fluctuations, the performance is weaker than Shanghai aluminum, of which 3 months Lun aluminum rose 0.
94% to 1610 US dollars / ton, the current Lun aluminum fell into a high oscillation for nearly a week, showing that its upward momentum is insufficient, short-term oscillation operating range focus on 1600-1650 US dollars / ton
.
Macro: The Asian dollar index oscillated around 96.
1 as the market pinned hopes that the People's Bank of China would ease monetary policy to hedge against risks
after Brexit.
In addition, the People's Bank of China's entrepreneur confidence index for the second quarter was 49%, up 5.
3% quarter-on-quarter, indicating that the market has improved the outlook for China's economy, and China's Caixin manufacturing PMI
for June will be released on Friday.
Market: On June 28, Shanghai aluminum trading concentrated 12600-12620 yuan / ton, and the premium for the month was 50-60 yuan / ton
.
On Monday, social inventory continued to decline, the holder itself inventory is less, the sense of price is resolute, Shanghai circulation is tight, middleman inventory is low, replenishment willingness is positive, low-price sources are quickly digested by the market, spot prices all the way, as of the noon close, the market has appeared 12640 yuan / ton of high quotations, Wuxi supply is more than Shanghai, middlemen replenishment willingness is general, this week the spot price is more stable, downstream willingness to receive goods slightly rebounded, the overall transaction is warmer
than yesterday.
Overall, the Shanghai aluminum 1608 contract oscillation strengthened to 12385 yuan / ton, which was stronger than Lun aluminum and still effectively stabilized above
the moving average group.
In addition, the previous period of aluminum inventories continued to decline, making its supply tight.
It is recommended that the Shanghai aluminum 1608 contract can be sold high and low between 12450-12200 yuan, and the stop loss is 100 yuan / ton
each.
