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On Thursday, the main contract of Shanghai aluminum 1808 oscillated slightly, closing at 14185 yuan / ton, down 0.
11% on a daily basis, and trading at 14240-14120 yuan / ton within the day, close to the level since March 30 this year, after five consecutive trading days of cumulative decline of 5.
43%.
In terms of term structure, Shanghai aluminum continued the positive arrangement of near low and far high, among which the positive price difference between Shanghai aluminum 1807 contract and 1808 contract narrowed to 45 yuan / ton, indicating that the downside risk of forward contracts increased
.
In terms of external trading, Asian Lun aluminum rushed back down, of which as of 16:20 Beijing time, 3-month LME aluminum was reported at 2168 US dollars / ton, down 0.
3% per day, and Lun aluminum fell back below the main moving average group, showing that the upper selling pressure is heavier, and the technical support below is concerned about 2150 US dollars / ton
.
In terms of the market, on June 21, the Shanghai transaction concentration was 14100-14110 yuan / ton, the discount for the month was 60-50 yuan / ton, the Wuxi transaction concentration was 14100-14110 yuan / ton, and the Hangzhou transaction concentration was 14130-14150 yuan / ton
。 Market circulation warehouse receipts increased, warehouse receipt price of 14090-14100 yuan / ton, slightly lower than the spot price, mainly because this warehouse receipt was traded before last week's delivery, the discount comparison at the time of the transaction is still profitable, the market spot circulation is sufficient, the middleman receives goods slightly more actively than the previous day, but the improvement is not obvious, downstream enterprises are tight in funds, maintain procurement according to just demand, and the overall transaction remains general
.
On the macro front, the Asian dollar index oscillated slightly and is now trading around 95.
26, hitting a new high
since July 17, 2017.
In the short term, the market continues to focus on trade issues between China and the United States, as well as the People's Bank of China's targeted RRR reduction measures for micro, small and medium-sized enterprises
.
In terms of industry, data from the National Bureau of Statistics shows that the latest report of the World Bureau of Metal Statistics (WBMS) shows that the global primary aluminum market supply shortage from January to April 2018 was 91,000 tons, compared with a supply shortage of 528,000 tons in the same period last year, showing that the shortage narrowed significantly, because the global primary aluminum demand decreased more than production, of which the global primary aluminum demand from January to April was 19.
77 million tons, a year-on-year decrease of 489,000 tons; primary aluminum production was 18.
748 million tons, a year-on-year decrease of 51,000 tons
。
During the day, Shanghai aluminum 1808 oscillated to 14185 yuan / ton, mainly boosted by the technical rebound demand after the continuous decline in aluminum prices, but due to China's high primary aluminum production in May and the US dollar index maintained a high level, increasing the risk
of aluminum prices falling.
It is recommended that the Shanghai aluminum 1808 contract can be backed by a rebound short below 14350 yuan, and the entry will focus on around 14250 yuan, and the target will be 14000 yuan / ton
.
