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Today's Shanghai aluminum main contract 1710 rose strongly, intraday trading at 14720-15315 yuan / ton, the end of the close at 15140 yuan / ton, up 2.
54%, the performance is much stronger than other base metals, partly driven by the strong rise of ferrous metals, the current Shanghai aluminum rebound pattern is still good
.
At the same time, the positive price difference between Shanghai-aluminum 1709 and 1710 contracts remained at 100 yuan / ton
.
In terms of external trading, LME aluminum oscillation rebounded today, of which 3-month Lun aluminum traded at 1907-1932 US dollars / ton, now slightly up 0.
94% to 1925 US dollars / ton, close to the level of July 12 this year, the current London aluminum fell into a high wide range oscillation for the sixth consecutive week, showing long and short trading cautious
.
On the macro front, the Asian dollar index rebounded relatively weakly, now trading around 93.
3, the US non-farm payrolls increased by 209,000 in July, less than the previous value of 220,000, but higher than the expected 180,000, while the US unemployment rate in July was in line with expectations, falling back to a multi-year historical low of 4.
3%.
。 In the aluminum market, data from the US Department of Commerce showed that aluminum imports in June this year were 228972 tons, an increase of 3.
9% month-on-month, and cumulative imports from January to June were 1512471 tons, an increase of 482,000 tons or 46.
8% year-on-year; Aluminum exports in June were 6,888 tons, down 5.
7% month-on-month, and cumulative exports from January to June were about 43,558 tons, an increase of 28.
9%
year-on-year.
In terms of the market, on August 7, Shanghai aluminum trading concentrated 14700-14740 yuan / ton, the discount for the month was 150-140 yuan / ton, Wuxi transaction concentration was 14700-14740 yuan / ton, Hangzhou transaction concentration was 14750-14770 yuan / ton
.
Spot prices rose sharply, holders were actively shipping at high prices, aluminum futures fluctuated greatly in the month, middlemen operated riskiers, downstream enterprises were afraid of heights, wait-and-see sentiment was strong, and the overall transaction showed Monday characteristics
.
During the day, the Shanghai aluminum 1710 contract rose strongly to 15140 yuan / ton, which was stronger than other base metals, and with a sharp increase in positions, showing that funds actively pushed up aluminum prices, while Shandong Province will limit the production of alumina and electrolytic aluminum, which will bring upward momentum in the later period and will also attract funds to enter
.
In terms of operation, it is recommended that the Shanghai aluminum 1710 contract can be backed above 14,800 yuan, and the entry reference is around 15,000 yuan, and the target is 15,300 yuan
.
