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Today, the Shanghai aluminum 1609 contract rushed back down, continuing the high oscillation trend this week, with a running range of 12630-12390 yuan / ton, and closed at 12460 yuan / ton at the end, down 0.
16%
from yesterday's closing price.
The short-term Shanghai aluminum trend oscillated, facing the direction of decision, the lower support is concerned about 12300 yuan / ton
.
In terms of external trading, today's Aluminium around 1650 US dollars / ton narrow fluctuations, of which 3 months Lun aluminum slightly fell 0.
12% to 1651 US dollars / ton, still close to the recent high (1672 US dollars / ton), but at present, Lun aluminum has risen for five consecutive weeks, short-term need to be vigilant of technical pullback, the lower support to focus on 1600 US dollars / ton
.
On the macro front, the dollar index in Asia traded in a narrow range around 96 as the Fed's June minutes were dovish and policymakers worried about declining employment growth, giving rise to heavier
pressure on the dollar index.
In addition, this week, the market is focused on the June non-farm payrolls data due on Friday, which is expected to be better than May
.
In terms of market: on July 7, Shanghai aluminum trading concentrated 13020-13040 yuan / ton, and the premium for the month was 40-60 yuan / ton
.
In the second period of trading, aluminum prices rebounded and rose, middlemen bullish confidence increased, replenishment willingness was positive, downstream on-demand procurement, and the overall transaction was more active
.
In terms of industry, the "Data Release" released that the United States imported 149003 tons of unprocessed aluminum in May, and imported 797,730 tons from January to May, down 73.
8% year-on-year; During the same period, the United States exported 47,028 tons of unprocessed aluminum, and the cumulative export from January to May was 28,119 tons, an increase of 16.
4% year-on-year, and the data shows that in the first half of this year, the United States unprocessed aluminum imports decreased and exports increased, showing a significant decline in domestic aluminum demand
.
Today's Shanghai aluminum 1609 contract oscillation fell to 12460 yuan / ton, falling back to the moving average intertwined operation
.
After the short-term market gradually digested the stimulation of the bullish factors in the aluminum market, it turned to worry that the strengthening aluminum price would affect the supply-side reform process
of the domestic aluminum market.
It is recommended that the Shanghai aluminum 1609 contract can be backed by 12,600 yuan below the sky, and the entry is concerned around 12,500 yuan, with a target of 12,300 yuan
.
