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Today's Shanghai aluminum main contract 1708 rose strongly, sharply cut the decline in the past two days, intraday trading at 13950-13790 yuan / ton, the end of the day closed at 13935 yuan / ton, up 1.
24%, but the increase is still weaker than copper nickel and other metals, but at present Shanghai aluminum is still running at the intersection of moving averages, the oscillation pattern has not changed
.
At the same time, the positive price difference between Shanghai aluminum 1708 and 1709 contracts remained slightly at 65 yuan / ton
.
In terms of external trading, LME aluminum oscillated and rebounded today, but the increase was limited, far lagging in copper nickel and other metals, of which 3 months Lun aluminum traded at 1880-1868 US dollars / ton, now slightly up 0.
29% to 1875 US dollars / ton, still close to the previous pullback low of 1866 US dollars / ton, the current Lun aluminum initially fell below the moving average group, the technical form is weaker than Shanghai aluminum, because the decline of U.
S.
crude oil futures on Lun aluminum more pressure
.
On the macro front, the Asian dollar index fell under pressure and is now trading around
97.
3.
The Fed's stress test results showed that all 34 major banks met the minimum requirements, while the US Senate version of the health care bill was released, and Trump's health care will fight again in Congress next week, but at least three Republican senators have opposed it
.
In the aluminum market, customs data showed that China's bauxite imports in May were 47.
79%, of which bauxite imported from Guinea was 2266217 tons, up 131.
06% year-on-year, while bauxite imported from Malaysia rose to 719614 tons, soaring 848.
15%.
In terms of spot, on June 23, Shanghai spot aluminum trading concentrated 13630-13650 yuan / ton, the discount for the month was 130-100 yuan / ton, Wuxi transaction concentrated 13630-13650 yuan / ton, Hangzhou transaction concentrated 13640-13660 yuan / ton
.
Holders stable shipments, a small amount of high prices of 13,650 yuan / ton when the aluminum is pumped high, the middleman believes that the downside is limited, try to enter, the month-end invoice factor, weekend stock demand, coupled with the spot price fell below 13700 yuan / ton, downstream enterprises are willing to receive goods, the overall transaction is better than yesterday.
The intraday Shanghai aluminum 1708 contract oscillated and rebounded to 13935 yuan / ton, returning to the moving average group, indicating that the bulls have a slight advantage, but not firm
enough.
It is recommended that Shanghai aluminum continue the range oscillation operation
.
The Shanghai aluminum 1708 contract can be sold high and low in the range of 13850-14100 yuan, and the stop loss is 150 yuan / ton
each.
