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Today's Shanghai aluminum main contract 1705 rose strongly, the rise has expanded, the end of the close rose to 13960 yuan / ton, up 1.
53% per day, the rise in the past two days completely recovered the decline at the beginning of the week, now re-stabilized above the moving average group, the upper rebound resistance focus on 14100 yuan / ton
.
At the same time, the positive price difference between Shanghai-aluminum 1704 and 1705 contracts remained at 90 yuan / ton, indicating that the willingness of forward contracts to fall has increased
.
Externally: Asian aluminum oscillation continued to rise, of which 3-month Lun aluminum rose 0.
88% to 1900 US dollars / ton, the increase is slightly lower than Shanghai aluminum and other base metals, the current Lun aluminum back above the moving average group, showing its strong willingness to rise, is expected to resume the rally, its upper rebound resistance focus on 1950 US dollars / ton
.
Macro: The U.
S.
dollar index fell under pressure overnight, down 1.
2% on a daily basis, and rebounded weakly this morning, trading around 100.
6, as the Federal Reserve raised interest rates by 25 basis points as scheduled, and the subsequent statement was dovish, which significantly slowed
market nervousness.
In response to the Fed's interest rate hike, the central bank raised the MLF rate by 10 basis points today, raising market concerns about
the interest rate hike by the People's Bank of China.
Aluminum industry information, on March 16, SMM statistics domestic electrolytic aluminum social inventory, Shanghai area 252,000 tons, Wuxi 373,000 tons, Hangzhou 63,000 tons, Gongyi 87,000 tons, South China Sea 368,000 tons, the total inventory of the five places is 1.
143 million tons, an increase of 21,000 tons
from last Thursday.
In terms of market: on March 16, Shanghai aluminum trading was concentrated in 13590-13610 yuan / ton, discount 200-180 yuan / ton, Wuxi 13590-13600 yuan / ton, Hangzhou 13600-13620 yuan / ton
.
The performance of aluminum prices in the early stage of trading was weak, and the market trading was light, and as the price of aluminum continued to rise, the market trading turned good, the quotation rose synchronously with the market, and downstream enterprises maintained bargain hunting, and the overall transaction was
acceptable.
The Shanghai aluminum 1705 contract rose strongly to 13960 yuan / ton during the day, rising with other base metals, as the US dollar index came under pressure and market nervousness slowed
significantly.
In operation, the short-term Shanghai aluminum 1705 contract can change the idea of more, can be backed by 13800 yuan above the dip, the entry reference around 13900 yuan, the target of 14100 yuan / ton
.
