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On Wednesday, the main force of Shanghai aluminum opened at 12440 yuan / ton, the bulls concentrated on leaving the market at the beginning of the session, aluminum prices quickly leaked, and then the bulls continued to flee, the center of gravity of Shanghai aluminum trading slowly moved down, the low touched 12340 yuan / ton, the end of the session bears closed at a low level, aluminum prices rose slightly to close at 12365 yuan / ton
.
At present, it seems that the bulls and bears are more cautious, and they have no willingness to chase up and kill the fall, and the 5-day moving average support below the main force of Shanghai aluminum still exists, and it is expected that the short-term Shanghai aluminum shock situation
.
In foreign countries, Lun aluminum opened at 1628 US dollars / ton in the morning, and during the Asian trading session, Lun aluminum was dragged down by domestic Shanghai aluminum, slightly tested lower, and recorded a low of 1621 US dollars / ton, and the lower test was supported by the 5/10 daily moving average, returning to the daily moving average to run above, but still blocked at 1630 US dollars / ton
.
During the European and American sessions, it fell again, breaking the morning low and testing $1619
.
The final value of U.
S.
GDP in the first quarter was revised up to 1.
1%, better than expected, from the released data from all aspects of the United States, the second quarter U.
S.
GDP recovery is expected, in the market has regarded the Fed interest rate hike as a small probability event, the dollar or maintain a high level of volatility, Lun aluminum to maintain stability on the 5/10 daily moving average
.
In terms of the market, the aluminum contract of the month fluctuated
around 12,535 yuan / ton at the beginning of the session.
Shanghai transaction concentration is 12630-12650 yuan / ton, for the month premium 80-100 yuan / ton, Wuxi transaction concentration 12620-12640 yuan / ton, Hangzhou transaction concentration 12650-12660 yuan / ton
.
Shanghai's circulation supply continues to be tight, spot premiums are raised, Shanghai holders sell at high prices, Wuxi and Hangzhou holders ship steadily, middlemen are difficult to have profit margins to replenish, downstream does not recognize the price, supply and demand are glued again
.
Aluminum remained volatile in the afternoon of the month, and rose slightly to 12560 yuan / ton at the end of the session, the East China market was relatively cold, Shanghai almost did not move, and a small number of transactions in Wuxi were 12600-12620 yuan / ton
.
Month-end two-day note factors still affect the market
.
In the short term, spot premiums have further risen, and it is difficult for aluminum prices to fall sharply in recent months, and continue to pay attention to changes in
domestic inventories.
On the plate, the high level of aluminum prices fell under pressure, rebound or end, temporarily wait and see for the opportunity to sell short at the high
.
