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On Monday, the main contract of Shanghai aluminum 1711 rushed back down, showing that the upper selling pressure was heavier, trading at 16935-16565 yuan / ton during the day, and closing down to 16585 yuan / ton at the end of the day, down 0.
51% on the day, down 2.
07%
from the intraday high.
However, at present, the technical form of Shanghai aluminum is still strong, and the rebound pattern still exists
.
At the same time, the positive price difference between Shanghai-aluminum 1710 and 1711 contracts remained at 100 yuan / ton, indicating that the performance of forward contracts was slightly resistant
.
In the external market, Asia Lun aluminum fell under pressure, falling for the first time in five trading days, and performed worse than other base metals, of which 3-month Lun aluminum traded at 2143-2117 yuan / ton, down 0.
63% from the previous day to 2127 US dollars / ton
.
At present, Lun aluminum is operating at a high oscillation level, indicating that long-short trading tends to be cautious
.
On the macro front, the Asian dollar index fell under pressure and is now trading around
92.
6.
Data released on Friday showed that the US non-farm payrolls increased by 156,000 after the quarterly adjustment in August, worse than expected an increase of 180,000, and an increase of 189,000 after July revision, which lowered the Fed's September interest rate hike expectations
.
In terms of industry, on September 4, SMM statistics on domestic electrolytic aluminum social inventory (including SHFE warehouse receipts) in seven places totaled 1.
611 million tons, an increase of 27,000 tons
from last Thursday.
In terms of the market, on September 4, Shanghai trading concentrated 16380-16420 yuan / ton, the discount for the month was 230-210 yuan / ton, Wuxi transaction concentration was 16380-16410 yuan / ton, Hangzhou transaction concentration was 16380-16420 yuan / ton, the holder of stable shipments, the middleman is generally willing to receive goods, downstream enterprises purchase on demand, after diving, the transaction price in Shanghai is 16220-16380 yuan / ton, and the discount for the month is 210-190 yuan / ton.
Wuxi transaction price 16220-16380 yuan / ton, Hangzhou transaction price 16220-16380 yuan / ton, holders shipments are extremely positive, with the large change in the plate, the market spot quotation chaos, middlemen and downstream enterprises wait-and-see sentiment is strong, receive goods chat, the tail of the holder waits and sees the afternoon market trend, the quotation gradually decreases, only a small number of quotations to 16220 yuan / ton
.
During the day, the Shanghai aluminum 1710 contract rushed back down to 16585 yuan / ton, showing that the upper selling pressure was heavier, and the performance was worse than other base metals, during which the period was accompanied by the downward trend of increasing positions, showing that the short-term is dominated by bears, and the short-term operation idea may need to change from more to range operation
.
It is recommended that the main force of Shanghai aluminum can sell high and low in the range of 16450-16800 yuan, and the stop loss is 150 yuan / ton
each.
