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On Thursday, the main contract of Shanghai aluminum 1808 rushed back down, closing at 14175 yuan / ton at the end of the day, unchanged from yesterday, intraday trading at 14305-14155 yuan / ton, the cumulative decline in the past 10 trading days reached 5.
74%.
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 1808 contract and the 1809 contract slightly widened to 70 yuan / ton, indicating that the forward contract is more willing to rebound
.
In terms of external trading, Asia Lun aluminum continued to decline, of which as of 15:54 Beijing time, the 3-month LME aluminum was reported at 2164.
5 US dollars / ton, down 0.
02% per day, and the current Lun aluminum effectively runs below the main moving average group, showing that the upper selling pressure is heavier, and the technical support below is concerned about 2100 US dollars / ton
.
In terms of the market, on June 28, Shanghai aluminum trading concentrated 14010-14040 yuan / ton, the discount for the month was 90-80 yuan / ton, Wuxi transaction concentration was 14010-14040 yuan / ton, Hangzhou transaction concentration was 14030-14060 yuan / ton
.
Spot discounts expanded, traders changed from shipping to receiving goods, role changes promoted the activity of market transactions, downstream enterprises purchased on demand, and the overall state remained relatively active
.
Recent spot discounts show signs of expansion, but are combined with two factors
: mid-year repayment and weaker spot consumption.
On the macro front, the Asian dollar index fluctuated in a narrow range around 95.
3, basically maintaining the 0.
68% gain recorded overnight
.
Recently, the US government has issued contradictory signals on the issue of restricting Chinese investment, which has made US-China trade tensions more variable
.
Focus on Eurozone sentiment data, US PCE price index, GDP, consumer spending, weekly initial requests and other heavy data
.
In terms of industry, on June 28, SMM statistics domestic electrolytic aluminum social inventory (including SHFE warehouse receipts): the total amount of aluminum ingot storage in consumption was 1.
844 million tons, down 40,000 tons
from last Thursday.
During the day, the Shanghai aluminum 1808 rush fell back to 14245 yuan / ton, indicating that the upper selling pressure was still heavy
.
However, the recent continuous rise in oil prices has brought some support to aluminum prices, and it is not appropriate to further chase short in the short term, and it is recommended to adopt range oscillation operations
.
It is recommended that the Shanghai aluminum 1808 contract can be sold high and low between 14050-14320 yuan / ton, and the stop loss is 80 yuan / ton
each.
