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On Tuesday, the Shanghai aluminum 1609 contract fluctuated in a narrow range around 12100 yuan, closing at 12190 yuan / ton at the end of the day, up slightly by 0.
25% from last Friday's closing price.
The term structure of the aluminum market maintained a negative arrangement of near high and far low, and the negative spread between Shanghai aluminum 1608 and 1609 contracts remained at 150 yuan / ton, indicating that the willingness of forward contracts to decline slowed down
.
Externally: Asian Lun aluminum rushed back down, indicating that there is a certain selling pressure above, of which 3-month Lun aluminum slightly fell 0.
03% to 1610 US dollars / ton, 5.
58% lower than the recent high of 1703 US dollars / ton, partly suppressed by the demand for technical pullback, but at present, Lun aluminum pullback to around M60, short-term need to be vigilant of the possibility
of stabilization after the release of pullback risk.
Macro: The Asian dollar index has stabilized and is now trading around 97.
3, and the market is currently focused on Wednesday's Fed interest rate decision, and there are expectations of interest rate hikes, which put pressure
on the base metals market.
In terms of aluminum market industry information, it is reported that Nanhai District has carried out deepening rectification actions for air pollution in the aluminum profile industry this year, and a total of 157 enterprises in the city have been included in the scope of rectification, including 94 in Nanhai
.
According to regulations, these enterprises need to complete the clean energy transformation by the end of June next year, otherwise they will all be shut down
.
At present, 51 companies have been completed in Nanhai, and 75 will be completed by the end of October
.
In terms of market: on July 25, Shanghai aluminum trading concentrated 12550-12570 yuan / ton, and the premium for the month was 170-190 yuan / ton
.
Holders shipments are stable, spot premiums are the same as last Friday, with the end of the month, the market began to appear with the next monthly ticket source, the period aluminum tends to stabilize, middlemen are relatively positive to replenish, downstream enterprises purchase on demand, low-priced sources are quickly digested by the market, medium and high-priced sources are relatively deadlocked, and the overall transaction is acceptable
.
The Shanghai aluminum 1609 contract oscillation fell slightly to 12190 yuan / ton during the day, which was much weaker than other base metals, as bauxite imports rose sharply in June, increasing the supply pressure on the aluminum market, and it was necessary to change the operation idea
in the short term.
It is suggested that the Shanghai aluminum 1609 contract can be backed by 12350 yuan below the sky, the entry reference is 12250 yuan, and the target is 12050 yuan
.
