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Today's Shanghai aluminum main contract 1709 rushed back down, showing that the upper selling pressure is heavier, intraday trading at 14195-14090 yuan / ton, the end of the day closed at 14125 yuan / ton, down 0.
32% per day, the current Shanghai aluminum effectively stabilized above the main moving average group, short-term can still hold more ideas
.
At the same time, the positive price difference between Shanghai aluminum 1708 and 1709 contracts remained at 85 yuan / ton
.
In terms of external trading, LME aluminum continued to rebound today, of which 3-month Lun aluminum traded at 1936-1923 US dollars / ton, now slightly up 0.
26% to 1936 US dollars / ton, this week Lun aluminum relative to Shanghai aluminum stagnation, because the driving force of aluminum prices is to accelerate the clearing of aluminum excess capacity in Xinjiang, but at present Lun aluminum is still stable above the moving average group, the technical form is stronger than other base metals
.
On the macro front, the Asian dollar index continues to fluctuate in a narrow range around 96.
3, and has rebounded 0.
89% from the low of this round of correction of 94.
47, but the current technical form of the dollar index is still weak, and the risk of short-term correction remains
.
In addition, the final monthly rate of durable goods orders in the United States fell 0.
8% in May, compared with a preliminary decline of 1.
1%.
In terms of aluminum market, Henan Province issued the "Notice on Printing and Distributing Five Plans for Henan Province to Tackle Excess Capacity", clarifying the four tasks
of "one to three reforms" for Henan's transformation and development battle structure.
Work goal: in 2018, withdraw the long-term suspension of electrolytic aluminum production capacity of more than
500,000 tons.
In terms of the market, on July 6, Shanghai aluminum trading concentrated 13940-13970 yuan / ton, the discount for the month was 110-100 yuan / ton, Wuxi transaction concentration was 13940-13960 yuan / ton, Hangzhou transaction concentration was 13950-13960 yuan / ton
.
Holders are willing to ship positively, middlemen are mainly downstream to receive goods, downstream enterprise orders have become weak, prices are high only according to just needed procurement, and the overall transaction is stable
compared with yesterday.
The Shanghai aluminum 1709 contract oscillated to 14125 yuan / ton during the day, and the short-term rebound pattern remained good, which means that bulls' confidence has further climbed, as the market hopes that the domestic electrolytic aluminum supply reform will enter the implementation stage, especially the acceleration of the elimination of excess production capacity in Xinjiang
.
It is recommended that Shanghai Aluminum maintain more ideas
.
The Shanghai aluminum 1709 contract can be backed by 13950 yuan above the dip, the entry reference is around 14050 yuan, and the target reference is 14300 yuan
.