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Today's Shanghai aluminum 1607 contract rushed back down, closing at 12,790 yuan / ton, down 1.
23% from the intraday high of 12,950 yuan / ton, and slightly up 0.
27% from yesterday's closing price, and the daily closing price was close to the high set in July last year
.
In the external market, the Asian market Lun aluminum oscillation declined, but the performance was slightly resistant to the decline of other base metals, of which Shanghai aluminum closed with a slight decline of 0.
43% to 1638 US dollars / ton, and the daily closing price was still close to the new high
since September 11 last year.
Macro: The Asian dollar index fell further to around 94.
3 under pressure overnight, as mostly underperforming U.
S.
economic data released this week further lowered expectations of the Fed's April rate hike
.
In addition, the market is focused on the Fed's interest rate decision this week, expecting a low probability of rate hike, but the market is focused on whether the Fed will signal a rate hike in June
.
In terms of the market: on April 27, Shanghai spot aluminum trading concentrated 12800-12840 yuan / ton, discount 10 yuan / ton to flat water, aluminum after the month of the week trading session is always rapid rush back down, violent fluctuations under the strong willingness of holders to exchange cash at the high, spot prices passive, the market is cautious about the trend of futures aluminum, middlemen are afraid to fall into the market rate is reduced, downstream only according to just need to purchase, the overall transaction remains sluggish
.
Overall, today's Shanghai aluminum 1607 contract rushed back down to 12790 yuan / ton, showing that there is a certain selling pressure above, for the third consecutive day into a high oscillation, but its performance is still resistant to falling to other non-ferrous metals, because the supply-side reform of aluminum in non-ferrous metals is the deepest, causing financial attention
.
Facing the demand for a pullback after the short-term aluminum price continues to rise, it is recommended that the Shanghai aluminum 1606 contract can intervene in long orders around 12700 yuan, and the stop loss refers to around
12500 yuan.
