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Yesterday morning, the main force of Shanghai aluminum opened at 12300 yuan / ton, the early day bulls actively entered the market to push up the aluminum price touched the intraday high of 12360 yuan / ton, and then Shanghai aluminum around 12320 a narrow range of oscillation, in the afternoon short-term bulls closed the exit, Shanghai aluminum put down, the low touched 12165 yuan / ton, at this time the 40-day moving average shows strong support, bears low concentrated closing positions to hedge, the end of the day bulls took advantage of the trend to buy, pushing up aluminum prices to close at 12345 yuan / ton
.
In terms of the market, the aluminum period broke through the previous peak in the month, the holders actively shipped at the high and took the initiative to reduce the price, the market circulation source turned to sufficient, the willingness of middlemen to replenish goods became increasingly cautious, the downstream fear of heights and wait-and-see sentiment was strong, and the market showed a priceless market
.
In the late afternoon, aluminum shocked the sky, fell to 12475 yuan / ton and then rose to 12570 yuan / ton, the market wait-and-see sentiment is strong, Shanghai supply and demand sides have almost no movement, Wuxi a small number of transactions 12680-12690 yuan / ton
.
On the macro front, the total number of existing home sales in the United States in May was 5.
53 million, the highest since February 2007, and the expectation was 5.
55 million, compared with 5.
43 million
in the previous month.
The MAS will include RMB investment in its foreign exchange reserves from June, taking RMB internationalization to the next level
.
In terms of industry, Chalco Liancheng, which has been planning to resume production for many days, completed the resumption of production at the beginning of this month, with a resumption capacity of 140,000 tons and a current operating capacity of 500,000 tons
.
The previous institute yesterday approved Gansu Dongxing Aluminum Jiayuguan Branch to become a registered brand, with an annual production capacity of 800,000 tons
.
To sum up, the pre-Shanghai aluminum is still running above all moving averages, the monthly contract position is reduced by about 10,000 hands per day, driving Shanghai aluminum upward, it is expected that the short-term Shanghai aluminum still maintains a high level of volatility, the spot end is unprecedented, the transaction between the two places is almost stagnant, the operation is still recommended investors to wait and see, it is not recommended to enter the long chase, the early long order can be appropriately take profit
.
