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Today's Shanghai aluminum main contract 1705 oscillation sorting, the end of the day fell to 13770 yuan / ton, up 0.
07%
on the day.
The daily closing price runs at the intersection of moving averages, indicating that long and short trading is cautious, and the technical support below it focuses on 13600 yuan / ton
.
At the same time, the positive price difference between Shanghai-aluminum 1704 and 1705 contracts remained at 90 yuan / ton, indicating that the willingness of forward contracts to fall has increased
.
Externally: Asian market Lun aluminum bottomed out, of which 3 months Lun aluminum slightly fell 0.
52% to 1906 US dollars / ton, the performance is significantly more resistant to the decline than Shanghai aluminum, the current Lun aluminum is still stable above the moving average group, its upper rebound resistance focus on 1950 US dollars / ton
.
Macro: The Asian dollar index extended last week's decline and is now trading around 100.
19, because after the Fed's interest rate hike boots landed, the next interest rate meeting was in May, before the market fell into a vacuum period of Fed interest rate hike speculation, and the dollar index temporarily lacked upward momentum
.
Aluminum industry information, on March 20, SMM statistics domestic electrolytic aluminum social inventory, Shanghai, Wuxi, Hangzhou, Gongyi and Nanhai five places of inventory totaled 1.
155 million tons, an increase of 12,000 tons
from last Thursday.
Market: On March 20, the trading price of Guangdong aluminum was concentrated in 13540-13560 yuan / ton, which is 40 yuan / ton higher than that in East China
.
Due to the decline in aluminum futures, the market shows supply and demand are weak, the holders are slightly reluctant to sell, the willingness to ship is not strong, the downstream processing enterprises are more wait-and-see sentiment, coupled with the beginning of the week, there are few procurement actions, the transaction is still concentrated in the intermediary trading, today's spot transaction in Guangdong is not good
.
The Shanghai aluminum 1705 contract oscillated to 13770 yuan / ton during the day, mainly due to increased supply pressure, and the performance was much weaker than other base metals
.
However, in view of the fact that Shanghai aluminum is still stable above M60, the short-term Shanghai aluminum 1705 contract can maintain a long idea, which can be backed by 13600 yuan above the dip, the entry reference around 13700 yuan, the target of 13950 yuan / ton
.
