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Today's Shanghai aluminum main contract 1705 around 13880 yuan / ton around a narrow range, the performance is far worse than Shanghai copper and Shanghai zinc, the end of the day closed at 13880 yuan / ton, a slight daily decline of 0.
36%, but stabilized above M60, above the face of M20, that is, 14060 yuan / ton suppression
.
At the same time, the positive price difference between Shanghai-aluminum 1704 and 1705 contracts remained at 95 yuan / ton, indicating that the forward contract is also more willing to rise
.
Externally: Ashi Lun aluminum continued to rebound trend, of which 3-month Lun aluminum slightly rose 0.
24% to 1885 US dollars / ton, the performance compared with other base metals significantly stagflation, at present Lun aluminum has not effectively broken through the upper average suppression, upward resistance to focus on 1900 US dollars / ton, partly by the pressure of US crude oil futures pressure
.
On the macro front: The Asian dollar index extended Friday's losses and fell further to around 101.
17 as markets priced in a bullish boost from a possible Fed rate hike in March and uncertainty climbed as the timing of the rate decision
approached.
Aluminum industry information, as of the end of February, the aluminum inventory of Japan's three major ports was 282,000 tons, an increase of 8,900 tons or 3.
26% month-on-month, and a year-on-year decrease of 83,600 tons or 22.
8%.
Market: On March 13, Shanghai aluminum trading concentrated 13550-13560 yuan / ton, the discount for the month was 80-60 yuan / ton, Wuxi transaction concentration was 13550-13560 yuan / ton, Hangzhou transaction concentration was 13610-13620 yuan / ton
.
The spot discount narrows, the hedging holders are willing to cash out, the circulation supply is very sufficient, the intermediary and the downstream overall willingness to receive goods is still more positive, the overall purchase volume in the near future is relatively stable, but due to the increase in shipments, the overall transaction supply exceeds demand
.
The Shanghai aluminum 1705 contract oscillated at 13880 yuan / ton during the day, and its performance was much weaker than other base metals, because of its strong energy attributes, and U.
S.
crude oil futures fell under pressure
.
In operation, the short-term Shanghai-aluminum 1705 contract can hold the idea of range oscillation, and it is recommended to sell high and low in the range of 13800-14000 yuan, and the stop loss is 100 yuan / ton
each.
