Shanghai aluminum rose strongly and performed much better than other base metals

In terms of external trading, Asian aluminum oscillation rebound, of which Shanghai aluminum closed London aluminum rose 0.
61% to 1557 US dollars / ton, has not got rid of the range oscillation finishing platform in the past week, its daily closing price is still close to the level of a month ago, the current London aluminum from this round of rebound high of 1686 US dollars / ton fell 7.
65%.

Macro: Overnight, Fed New York Chairman Dudley said he was very satisfied with the market's view of June-July; If the economy meets its expectations, a rate hike in June-July is justified, while another variable influencing a rate hike is the UK referendum, with the Asian dollar index trading further around 95.
3
.

Market: On May 20, Shanghai aluminum trading concentrated 12470-12480 yuan / ton, and the premium for the month was 10-20 yuan / ton
.
In addition, because Xinfa has not arrived recently, the supply is tight, so its price is higher than other brands, the aluminum is first suppressed and then rising, the middleman is willing to replenish the goods, the downstream weekend stocking, the willingness to receive goods has rebounded, and the overall transaction is warmer
than yesterday.

Overall, today's Shanghai aluminum 1607 contract oscillated and rebounded to 12435 yuan / ton, its performance is stronger than other base metals, the hedging advantage is obvious, and the operation needs to be cautious and bullish
.
It is recommended that the Shanghai aluminum 1607 contract can continue to be cautious above 12350 yuan, and the target is around
12500 yuan.