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Today's Shanghai aluminum 1610 contract oscillation sorting, basically maintained the overnight decline, the end of the close at 12340 yuan / ton, down 0.
64% from yesterday's closing price, but its performance continued to resist the decline in copper nickel, this week Shanghai aluminum pressure decline is regarded as a confirmation of last Thursday's rally, the current Shanghai aluminum is still stable at M60, that is, 12300 yuan / ton
.
At the same time, the term structure of the aluminum market turned into a negative arrangement of near high and far low, and the negative price difference between Shanghai aluminum 1609 and 1610 contracts slightly widened to 110 yuan / ton
.
Externally: today's Asian market Lun aluminum continued the recent decline, of which 3-month Lun aluminum slightly fell 0.
15% to 1648 US dollars / ton, down 3.
6% from the high of 1709 US dollars / ton, but the Asian market its performance is slightly resistant to other base metals, the current technical form is still stronger than other base metals, the following technical support focus on M60, that is, 1630 US dollars / ton
.
Macro: Today's Asian dollar index oscillated and sorted, basically maintained overnight gains, but the overall is still running near this month's low, now trading around 94.
7, the current dollar index effectively running below the moving average group, downside risks remain.
In addition, the People's Bank of China restarted the 14-day central bank reverse repurchase for two consecutive days after half a year, reducing the central bank's RRR reduction expectations, and the market performance was disappointed
.
In terms of market: on August 25, Shanghai aluminum trading concentrated 12600-12610 yuan / ton, the monthly premium was 150-170 yuan / ton, Wuxi transaction concentration was 12600-12610 yuan / ton, Hangzhou transaction concentration was 12620-12640 yuan / ton
.
Overnight aluminum release volume downward, but due to the small arrival of spot goods in East China, the shipment strength of holders has been seriously reduced, the period is weak and strong, the spot premium is further expanded, the middleman is willing to replenish goods, the downstream is prepared in advance, and the overall transaction is active
due to tight supply.
Today's Shanghai aluminum 1610 contract oscillated to 12340 yuan / ton, dragged down by the decline in copper prices, but its performance is still relatively resistant
.
Moreover, Shanghai aluminum is still running above the moving average group, and it should not be too bearish
in the short term.
It is recommended that the Shanghai aluminum 1610 contract can be backed by 12200 yuan / ton above the dip short, the entry reference is around 12280 yuan, the target is 12500 yuan / ton
.
