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Today's Shanghai aluminum 1608 contract oscillation declined, falling to 11905 yuan / ton at the end of the day, down 1.
98% from yesterday's closing price, the daily closing price hit the low point of May 10 this year, completely giving up the larger decline recorded yesterday, and the current Shanghai aluminum has fallen below the support of M60 below
.
In the external market, the Asian aluminum oscillation strengthened today, and the 3-month aluminum rose 0.
71% to $1550 / ton, continuing the low oscillation trend
in nearly two weeks.
At present, the operating range of London aluminum is getting narrower, indicating that the long and short breakthrough is imminent, and the probability of its upward breakthrough is higher, the lower support of London aluminum focuses on 1530 US dollars / ton, and the upper resistance is 1600 US dollars / ton
.
Macro: The Asian dollar index oscillated and fell, now trading around 95.
1, which boosted non-ferrous metals
.
Watch for ECB interest rates and US ADP employment data for May tonight
.
In terms of industry information, recently, after Yunnan, Guizhou and Shanxi, Guangxi Province has become the fourth comprehensive pilot
of electricity reform in China.
Previously, 20 provincial-level power grids had joined the pilot of transmission and distribution price reform and the pilot of electricity sales side reform
.
Market: On June 3, Shanghai aluminum trading concentrated 12350-12380 yuan / ton, and the premium for the month was 10-30 yuan / ton
.
Hangzhou's circulating supply is tight, and the spot price is stronger
than that of Shanghai Wuxi.
In the early stage of the transaction, the supply and demand ends showed a tug-of-war, the transaction was sluggish, the holder had no choice but to lower the price, the middleman was willing to receive goods at a low price, the downstream enterprises purchased on demand, the aluminum shock was weak, the spot transaction was sluggish, and the demand side had a gradual increase in the supply and demand tug-of-war
.
Overall: today's performance of Shanghai aluminum is much weaker than other base metals, or mainly suppressed by the reduction of electricity prices caused by the domestic electricity reform
.
In addition, the market is currently focused on tonight's non-farm payrolls data, and expectations are bearish, and long and short trading is cautious
until then.
It is recommended that the Shanghai aluminum 1608 contract can be sold high and low between 12150-11800 yuan / ton, and the stop loss is 100 yuan / ton
each.
