Shanghai aluminum oscillated upwards and basically recovered yesterday's decline

In the external market, today's Asian Lun aluminum oscillation slightly, 3-month Lun aluminum rose 0.
32% to 1575 US dollars / ton, continuing the low oscillation trend
in nearly two weeks.
At present, the operating range of London aluminum is getting narrower, indicating that the long and short breakthrough is imminent, and the probability of its upward breakthrough is higher, the lower support of London aluminum focuses on 1530 US dollars / ton, and the upper resistance is 1600 US dollars / ton
.

Macro: The Asian dollar index oscillated and fell, now trading around 95.
1, which boosted non-ferrous metals
.
Watch for ECB interest rates and US ADP employment data for May tonight
.
In terms of industry information, it is reported that Rio Tinto believes that the short-term aluminum price rebound is slow, due to high inventory levels and a slight imbalance between supply and demand, but in the medium and long term, aluminum will be one of the
fastest rising metals.

Market: On June 2, Shanghai aluminum trading concentrated 12470-12490 yuan / ton, and the premium for the month was 30-40 yuan / ton
.
Holders are willing to ship positively, the recent period of aluminum consolidation, spot premium slightly declined, attracting middlemen to replenish at low prices, futures aluminum did not rise, downstream willingness to receive goods has not yet picked up, only on-demand procurement, the overall transaction is concentrated among
traders.

Overall, today's Shanghai aluminum oscillation strengthened, partly boosted by the strong rise of Shanghai zinc, but because Shanghai aluminum did not effectively break through the upper moving average suppression, and there are many risk events this week, long and short trading is still repeated, it is recommended that the Shanghai aluminum 1608 contract can be sold high and low between 12000-12300 yuan / ton, and the stop loss is 100 yuan / ton
each.