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On Tuesday, the main contract of Shanghai aluminum 1710 continued to rise strongly, trading at 15175-15620 yuan / ton during the day, closing up to 15435 yuan / ton, up 1.
95% per day, the performance continued to be stronger than other base metals, and continued to be driven by market speculation on the supply-side reform process of the aluminum market, so that the daily closing price of Shanghai aluminum hit a high since February 20, 2013, and 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 rushed back down, but still maintained the previous day's high 3.
43% gain, of which 3 months Lun aluminum trading in 1989-1968 US dollars / ton, now slightly up 0.
05% to 1974 US dollars / ton, hit a high since December 2, 2004, the current London aluminum out of the five-week high oscillation trend, or means that its upside will open
.
On the macro front, the Asian dollar index fluctuated in a narrow range, trading around
93.
3 in early trading.
In addition, China's exports in July increased by 7.
2% year-on-year, and imports were 11% year-on-year, both of which fell and were lower than the expected 11% and 18%, indicating that imports and exports were not good
.
In the aluminum market, the Shandong Development and Reform Commission recently issued a document ordering Shandong Weiqiao and Xinfa to shut down 3.
21 million tons
of electrolytic aluminum production capacity.
In terms of the market, on August 8, Shanghai spot aluminum trading concentrated 15090-15120 yuan / ton, the discount of the month 200-180 yuan / ton, Wuxi transaction concentration 15090-15120 yuan / ton, Hangzhou transaction concentration 15120-15140 yuan / ton, holders stable shipments, spot discount expanded, traders received goods actively, spot goods continued to rise, downstream enterprises are afraid of heights, wait-and-see sentiment is extremely strong, it is difficult to see the receipt, the overall transaction is warmer than yesterday; After the big fall, Shanghai quotation concentrated 15060-15090 yuan / ton, the discount for the month was 160-130 yuan / ton, Wuxi quotation concentrated 15060-15090 yuan / ton, Hangzhou quotation concentrated 15060-15090 yuan / ton, spot discount rapidly narrowed, it was difficult to see middlemen inquire, downstream enterprises continued to wait and see, almost no transaction
.
During the day, the Shanghai aluminum 1710 contract rose strongly to 15435 yuan / ton, which was stronger than other base metals, and accompanied by a sharp increase in holdings, indicating that funds actively pushed up aluminum prices, but in the context of aluminum prices have risen by more than 6% this month, short-term attention to the risk of technical pullback in aluminum prices
.
In terms of operation, short-term long-term chasing needs to be cautious, it is recommended that the Shanghai aluminum 1710 contract can be sold high and low in the range of 15200-15600 yuan, and the stop loss is 150 yuan / ton
each.
