Shanghai aluminum oscillated to the downside and continued to maintain the previous day's pullback trend

In terms of the external market, Lun aluminum opened at 2283 US dollars / ton in the morning, after entering the Asian session, Lun aluminum maintained a narrow range of shock, entered the European session, bulls intervened, Lun aluminum continued to try to get rid of the moving average entanglement, as of 18:25 Lun aluminum reported 2314 US dollars / ton, above all moving
averages.
Before the domestic Shanghai aluminum fails to form a substantial breakthrough and breaks through the 10,000 and 50,000 mark, Lun aluminum will continue to maintain range volatility, and it is difficult to get rid of the moving average entanglement
.

Macro news, China's imports and exports in May were both better than expected Exports rebounded 12.
6%
year-on-year.
Chinese customs released import and export data
for May on Friday.
In May this year, China's imports and exports continued to expand
.
In RMB terms, China's imports rose 15.
6% year-on-year in May, 9.
4% expected and 11.
6% in the previous month; Exports rose 3.
2% year-on-year, 1.
9% expected, and 3.
7%
prior.
Good news
.

In terms of the market, aluminum fell before the afternoon and then fluctuated
.
Shanghai transaction concentration 14720 ~ 14730 yuan / ton, the discount for the month 40 ~ 30 yuan / ton, Wuxi transaction concentration 14720 ~ 14730 yuan / ton, Hangzhou transaction concentration 14750 ~ 14770 yuan / ton
.
The market circulation is sufficient, the price of pending orders for 1807 contracts by value-preserving holders is slightly higher than the market transaction price, the activity of middlemen has fallen, the aluminum period is down, downstream enterprises are waiting, only according to the purchase of just needs, and the overall transaction has fallen
.
In the late afternoon, aluminum fell, and the price in East China was 14670~14720 yuan / ton, and the transaction was rare
.

In terms of inventory, during the day, the aluminum warehouse receipt of the previous period was 792802 tons, down 2173 tons
from the previous trading day.
As of June 8, LME aluminium stocks fell by 4,950 tonnes to 1175225 tonnes
.

Overall, the current fundamentals are still stable, and before the self-owned power plant rectification plan is not clear, the pressure on the upper 10,000 threshold is still large, but in view of the overall benefit of the central bank's water release and nonferrous metals, the center of gravity of Shanghai aluminum is still moving up compared with before, and it still closes above
all moving averages.
Recently, the news related to the remediation plan of captive power plants is not clear, and Shanghai aluminum will still maintain range volatility
.