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On Friday, the main contract of Shanghai aluminum 1710 opened high and high, performing stronger than copper and weaker than nickel, trading at 16720-16505 yuan / ton during the day, closing at 16670 yuan / ton at the end, up 1.
83% per day, and the closing price hit a new high
for the year.
At present, the technical form of Shanghai aluminum is still strong, and the rebound pattern still exists
.
At the same time, the positive price difference between Shanghai-aluminum 1709 and 1710 contracts widened to 90 yuan / ton, indicating that the forward contract performed slightly stagflation
.
In terms of the external market, Asian Lun aluminum oscillation rebound, for the fourth consecutive day of rise, of which 3 months Lun aluminum trading at 2145-2120 yuan / ton, slightly up 0.
61% from yesterday to 2140 US dollars / ton, the past two days Lun aluminum broke through the high oscillation range, showing that its willingness to rise significantly higher, meaning that the short-term long and short competition is dominated
by long wins.
On the macro front, the Asian market dollar index oscillated and rebounded, partially recovering overnight losses, the market is currently focusing on the US non-farm payrolls data, Wednesday's release of the US ADP employment in August increased by 237,000, far more than expected, the largest increase in March, higher than the expected 185,000, bullish non-farm, or stimulate the dollar index to rebound
further.
In terms of the market, on September 1, Shanghai spot aluminum trading concentrated 16220-16260 yuan / ton, the discount for the month was 250-240 yuan / ton, Wuxi trading concentrated 16220-16250 yuan / ton, Hangzhou transaction concentrated 16200-16220 yuan / ton, aluminum rose after the month, and the spot discount expanded slightly, the holder showed a strong price for sale, the spot discount expanded slightly, the willingness of traders to receive goods remained positive, the spot price rose, downstream enterprises purchased according to just demand, Hangzhou area, Due to environmental protection factors, downstream enterprises shut down more and demand declined, resulting in lower prices than Wuxi Shanghai, and the overall transaction fell slightly compared with the previous day
.
During the day, the Shanghai aluminum 1710 contract gaped high and opened higher, closing up to 16670 yuan / ton, hitting a new recent high, during which the period was accompanied by the reduction and contraction of positions, indicating that funds continued to flow out, and the willingness to hold positions declined
.
However, in view of the fact that Shanghai aluminum intends to break through the recent oscillation finishing range, or is expected to further open up the upside, it is recommended that the main force of Shanghai aluminum can back above 16,500 yuan to bargain more, enter the reference around 16,600 yuan, and target 16,800 yuan / ton
.
