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Today's Shanghai aluminum main contract 1708 again rushed back down, intraday trading at 13870-13700 yuan / ton, the performance is much weaker than copper and zinc, the end of the close at 13745 yuan / ton, slightly up 0.
73%, the current Shanghai aluminum to fall after breaking, did not further expand the decline, but fell into a low oscillation, showing that long and short trading is still cautious
.
At the same time, the positive price difference between Shanghai aluminum 1707 and 1708 contracts narrowed to 75 yuan / ton
.
External: LME aluminum fluctuated in a narrow range around $1900 / ton today, of which 3-month aluminum traded at 1911-1895 US dollars / ton, now slightly down 0.
55% to 1898 US dollars / ton, the current LME aluminum is close to the low point on May 12 this year, and the technical support below is concerned about 1860 US dollars / ton
.
Macro: The dollar index continued its rebound overnight, but fell from its high at the end of the day, cutting some of its gains, and the Asian dollar index fell slightly to around
97.
08 today.
In addition, the first round of voting in the French parliamentary election ended, Macron's party took the lead, and the market uncertainty about the election slowed
.
In the aluminum market, on June 12, SMM statistics domestic electrolytic aluminum spot inventory, Shanghai area 267,000 tons, Wuxi 466,000 tons, Hangzhou 87,000 tons, Gongyi 76,000 tons, South China Sea 313,000 tons, the total inventory of the five places is 1.
209 million tons, an increase of 02,000 tons
from last Thursday.
In terms of the market, on June 12, the mainstream aluminum transaction in Shanghai was 13580-13590 yuan / ton, the discount for the month was 50-30 yuan / ton, the mainstream transaction in Wuxi was 13580-13590 yuan / ton, the mainstream transaction in Hangzhou was 13600 yuan / ton, affected by the fall again after 11 o'clock, some aluminum ingots in Wuxi and Shanghai fell to 13550-13570 yuan / ton, during the decline in aluminum prices, spot is still difficult to support alone under inventory pressure
。 The market is abundant, the downstream goods are slightly weak, and the overall market conditions are average
.
During the day, the Shanghai aluminum 1708 contract fell back to 13745 yuan / ton, indicating that there is still heavy selling pressure
above.
At the same time, given that the market focused on the Fed's interest rate hike this week, and the expectation of interest rate hike is strong, the aluminum price rebound is weak
.
It is recommended that the Shanghai aluminum 1708 contract can be backed by 13880 yuan below the sky, the entry reference is around 13780 yuan, and the target is 13680 yuan / ton
.
