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Today's Shanghai aluminum 1609 contract continued to fall under pressure, falling to 12120 yuan / ton at the end of the day, down 0.
57% from yesterday's closing price, the daily closing price hit a new low in nearly a month, and compared with the high of 12745 yuan / ton set in July has been retraced 4.
9%, the current Shanghai aluminum fell back to the moving average group to run, short-term decline risk increased
.
Externally: today's Ashi Lun aluminum rushed back down again, showing that there is a certain selling pressure above, of which 3-month Lun aluminum slightly fell 0.
5% to 1601 US dollars / ton, down 5.
98% from the recent high of 1703 US dollars / ton, partly suppressed by the demand for technical pullback, but at present, Lun aluminum pulls back to around M60, short-term need to be vigilant about the possibility
of stabilization after the release of pullback risk.
Macro: The Asian dollar index fell under pressure, now trading around 97.
01, and the market is currently focused on the Fed's interest rate decision to be announced in the early hours of Thursday morning, and there are expectations of interest rate hikes, which is under
pressure on the base metals market.
In terms of aluminum market information, Bahrain Aluminum raised its 2016 aluminum production target by 540,000 tons to 1.
5 million tons, but its net profit in the second quarter fell by 45.
4%.
In terms of market: on July 25, Shanghai aluminum trading concentrated 12550-12570 yuan / ton, and the premium for the month was 170-190 yuan / ton
.
Holders shipments are stable, spot premiums are the same as last Friday, with the end of the month, the market began to appear with the next monthly ticket source, the period aluminum tends to stabilize, middlemen are relatively positive to replenish, downstream enterprises purchase on demand, low-priced sources are quickly digested by the market, medium and high-priced sources are relatively deadlocked, and the overall transaction is acceptable
.
Today's Shanghai aluminum 1609 contract oscillation fell slightly to 12120 yuan / ton, the performance is much weaker than other base metals, as the import of bauxite in June rose sharply, increasing the pressure on aluminum market supply, and the short-term need to change the operation idea
.
It is suggested that the Shanghai-aluminum 1609 contract can be backed by 12320 yuan at a high altitude, with an entry reference of 12200 yuan and a target of 12050 yuan
.
