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On Monday, Shanghai aluminum oscillated and rebounded, effectively breaking through the upper moving average suppression, and the 1608 contract closed at 12295 yuan / ton at the end of the day, up 0.
61% from Friday's closing price, and the short-term operating range focused on 12000-12400 yuan / ton
.
In terms of external trading, the LME market was closed on Monday, and the 3-month Lun aluminum rose slightly by 0.
16% to $1557 / ton in the night market on Friday, continuing the low oscillation trend
in the past two weeks.
Macro: The Asian dollar index extended its rally, rising to around 95.
8, and this week the market focused on Friday's US non-farm payrolls, hoping for signals on whether interest rates will be raised in June, which are now expected to be high
.
In terms of the market, on May 30, Shanghai aluminum trading concentrated 12650-12670 yuan / ton, the premium for the month was 140-150 yuan / ton
.
Holders sell at a high price, but the spot premium is suppressed due to the strong rise of aluminum in the future, the middleman is suppressed due to the end of the month and the high spot premium, the willingness to replenish is cooling, downstream enterprises consider the end of the month and the spot price is high, choose to wait and see for the time being, the overall transaction is cautious, and the wait-and-see mood is strong
.
Today's Shanghai aluminum 1608 contract oscillation continued to rise to 12295 yuan / ton, as domestic electrolytic aluminum production from January to April continued to decline year-on-year, showing that the pressure of aluminum enterprises to reduce production is controllable
.
Technically, Shanghai aluminum effectively stands above the moving average group, and the technical form performance is stronger than other base metals
.
It is recommended that the Shanghai aluminum 1608 contract can be backed by 12150 yuan to build more on the dip, the entry point refers to around 12250 yuan, and the target is 12400 yuan
.
