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On Monday, the main contract of Shanghai aluminum 1809 oscillated and rebounded, but fell from the high at the end of the day, partially reducing the intraday gains, and the performance was much stronger than other base metals, trading in the range of 14460-14375 yuan / ton, and closing at 14415 yuan / ton, basically unchanged
from the previous day.
In terms of term structure, Shanghai aluminum continued the positive arrangement of near, low, far and high, in which the positive price difference between the Shanghai aluminum 1808 contract and the 1809 contract narrowed to 65 yuan / ton
.
In terms of external trading, Asian aluminum oscillation rebound, performance is much stronger than other base metals, of which as of 16:00 Beijing time, 3-month LME aluminum reported 2065 US dollars / ton, up slightly 0.
63% per day, at present Lun aluminum is still effectively running at the interweaving of moving averages, short-term decline risk has weakened, the upper rebound resistance focuses on 2100 US dollars / ton
.
In terms of the market, on July 30, the Shanghai transaction concentration was 14290-14300 yuan / ton, the discount for the month was 70-60 yuan / ton, the Wuxi transaction concentration was 14290-14300 yuan / ton, and the Hangzhou transaction concentration was 14300-14320 yuan / ton
.
Traders and shipments to reduce warehouse preparation, market circulation slightly declined, and middlemen are willing to receive goods, resulting in a reduction of spot discount of about 20 yuan / ton, downstream enterprises still purchase according to just demand, the overall transaction is more active, concentrated among
traders.
On the macro front, the Asian dollar index fell under pressure and is now trading around 94.
6, partly weighed
down by the weaker-than-expected GDP growth rate in the second quarter of the United States.
In addition, the yuan traded at 6.
8131 against the dollar, the highest since
June 27 last year.
In the absence of key economic data in the evening, the market may tend to be cautious
.
In terms of industry, on July 30, SMM statistics on domestic electrolytic aluminum consumption inventory (including SHFE warehouse receipts) totaled 1.
78 million tons, down 15,000 tons
from last Thursday.
During the day, the Shanghai aluminum 1809 oscillation rose slightly to 14415 yuan / ton, which was stronger than other base metals
.
Recently, domestic aluminum social inventory has continued to decrease, which is still conducive to the rebound
of aluminum prices.
It is recommended that the Shanghai aluminum 1809 contract can be backed above 14280 yuan to bargain price, enter the market reference around 14350 yuan, and target 14500 yuan / ton
.
