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Today's Shanghai aluminum main contract 1709 near the afternoon strong pull, the end of the close rose to 14765 yuan / ton, soared 2.
36%, intraday trading at 14840-14390 yuan / ton, the current closing price hit the high point of September 9, 2014, the rise is obvious, the aluminum price after the correction to stabilize and strengthen, send a clear upward signal
.
At the same time, the positive price difference between Shanghai aluminum 1708 and 1709 contracts was flat to 110 yuan / ton
.
In terms of external trading, LME aluminum rose strongly today, but the increase was much weaker than Shanghai aluminum, of which 3-month Lun aluminum traded at 1908-1936 US dollars / ton, now up 1.
02% to 1929 US dollars / ton, the current London aluminum fell into a high oscillation for the fifth consecutive week, showing long and short trading cautious
.
On the macro front, the Asian dollar index rebounded weakly and is now trading around 93, close to the low set on May 2 last year
.
In addition, the final Markit manufacturing PMI in the United States in July was 53.
3, a new high since March, and both the expected and preliminary values were 53.
2, indicating that US manufacturing activity continued to expand
.
In terms of aluminum market, recently, Shandong Province triggered the "2017 Comprehensive Rectification Plan for Prominent Problems in Environmental Protection", and issued a notice, requiring all localities and departments to implement it, planning to limit or stop production of alumina and electrolytic aluminum from November 15, 2017 to March 15
, 2018.
In terms of the market, on August 2, Shanghai aluminum trading concentrated 14200-14220 yuan / ton, the discount for the month was 150-140 yuan / ton, Wuxi transaction concentration was 14200-14220 yuan / ton, Hangzhou transaction concentration was 14230-14250 yuan / ton
.
Cargo holders have slightly tightened their attitude to shipments, middlemen are relatively active in receiving goods, downstream enterprises have limited high-temperature production, limited purchases, and the overall transaction is slightly better than yesterday, mainly from the contribution of
traders.
During the day, the Shanghai aluminum 1709 contract soared strongly to 14765 yuan / ton, a stronger increase than other base metals, indicating that after the short-term aluminum price decline risk is released, the willingness to stabilize and rebound remains, 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
.
Moreover, the market is rumored that Hongqiao Aluminum will close 2.
6 million tons of production capacity by October 15, and if the news is confirmed, the rise in aluminum prices will trigger futures
.
In terms of operation, it is recommended that the Shanghai aluminum 1709 contract can be backed above 14,500 yuan to bargain more, and the entry reference is around 14,650 yuan, with a target of 15,000 yuan
.
