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Today's Shanghai aluminum 1609 contract passively followed, the performance continued to be stronger than Shanghai zinc, the end rose to 12700 yuan / ton, up 0.
36% from yesterday's closing price, the daily closing price hit a new high in nearly a year, short-term continuous rise after the need to be vigilant of technical pullback, the lower support to focus on 12500 yuan / ton
.
Externally: today's Asian Lun aluminum oscillation strengthened, of which 3 months Lun aluminum continued to rise 0.
48% to 1682 US dollars / ton, has broken through the previous high, hit a new high since July 20 last year, performance compared with other base metals stagnation resistance, in the past six weeks Lun aluminum has achieved five weeks of rise, short-term still need to be vigilant about technical pullback demand, upper rebound resistance focus on 1700 US dollars / ton
.
Macro: The Asian dollar index remained high and oscillated, now trading around 96.
3, and the strength of the dollar index this week did not curb the base metals higher, but achieved the same rise, as the market looked to China to introduce economic stimulus measures
.
The market is currently focused on a series of economic data from China to be released on Friday, and the expected data is not performing well, which has triggered market expectations
that the People's Bank of China will expand monetary policy.
Market: On July 14, Shanghai aluminum trading concentrated 12980-12990 yuan / ton, and the flat water to the premium of the month was 10 yuan / ton
.
The price difference in the following month has narrowed, but the price difference is still more than 150 yuan / ton, the willingness of the holders to ship for cash remains positive, Shanghai part of the gallan aluminum due to the location of the storage warehouse, the quotation is as low as 12940 yuan / ton, the middleman low price slightly replenished, downstream on-demand procurement, intraday aluminum that month is stable than yesterday, the overall transaction is stable
compared with yesterday.
In terms of industries, China's exports of aluminum and aluminum products in June were 380,000 tons, down 40,000 tons or 9.
52% month-on-month and 15.
36%
year-on-year.
From January to June this year, China's aluminum and aluminum exports totaled 2.
28 million tons, down 9.
16% year-on-year, partly because aluminum encountered foreign anti-dumping and countervailing sanctions, indicating that foreign aluminum demand has declined
.
Today's Shanghai aluminum 1609 contract oscillation strengthened to 12700 yuan / ton, its performance continued to stagnation and decline compared with other base metals, and weaker than Lun aluminum
.
Due to market concerns about domestic aluminum companies increasing production, increase supply pressure
.
Caution is still recommended
.
