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Today's Shanghai aluminum main contract 1706 around 14300 yuan / ton around the narrow range, intraday trading at 14380-14175 yuan / ton, the end of the close fell to 14330 yuan / ton, down 0.
17% on the day, but at present Shanghai aluminum still continues to run above
the main moving average group.
At the same time, the positive price difference between Shanghai aluminum 1705 and 1706 contracts widened slightly to 100 yuan / ton
.
External trend: LME aluminum rushed back down today, showing heavier selling pressure above, of which 3-month aluminum was flat to $1937 / ton, but it is still barely stable above the moving average group, the technical form is stronger than other base metals, and the lower support focuses on $1900 / ton
.
On the macro front: the Asian dollar index gapped low and now runs around 99, hitting a new low since November 11, 2016, as expectations of a June rate hike by the Federal Reserve fell, while in the first round of the French presidential election, candidate Emmanuel .
Macron and Marina.
Le Pen took the lead in the vote and successfully entered the second round of the general election, and the voting result was in line with expectations
.
At the same time, the market expects Macron to win the second round of voting, when France will remain in the EU, boosting the euro
.
Aluminum industry information, as of April 24, SMM statistics on the total of electrolytic aluminum stocks in five domestic places totaled 1.
215 million tons, down 03,000 tons
from last Thursday.
Spot: on April 24, Shanghai trading concentrated 14030-14070 yuan / ton, the discount for the month was 160-140 yuan / ton, Wuxi transaction concentration was 14030-14060 yuan / ton, Hangzhou transaction concentration was 14050-14060 yuan / ton
.
Although some smelters do not ship today, traders who received goods in the early stage due to the existence of futures arbitrage profit margins are actively shipped, the overall circulation supply is more sufficient, the futures aluminum shock, the middlemen cautiously receive the goods, the spot price is about four, downstream enterprises purchase on demand, and the overall transaction is
acceptable.
The Shanghai aluminum 1706 contract oscillation fell slightly to 14330 yuan / ton during the day, and the current Shanghai aluminum is barely above the main moving average group, and it is necessary to continue to pay attention to the latest progress
of domestic electrolytic aluminum supply-side reform.
In terms of operation, it is recommended that the Shanghai aluminum 1706 contract can be backed by 14100 yuan above the dip, and the entry reference is around 14260 yuan, and the target is 14500 yuan / ton
.
