Shanghai aluminum shock rebound sharply cut intraday losses

In terms of external trading, Asian aluminum oscillation strengthened, of which Shanghai aluminum closed London aluminum rose 0.
45% to 1562 US dollars / ton, has not got rid of the range oscillation finishing platform in the past week, its daily closing price is still close to the level of a month ago, the current Lun aluminum from this round of pullback low of 1531 US dollars / ton up 1.
95%.

Macro: The Asian dollar index continued to trade around 95.
2, partially limiting the height
of the base metals rebound.
However, due to the strong rise of ferrous metals in the afternoon, the market sentiment was higher, and base metals passively followed, but the trend between various commodities showed obvious differentiation
.

In terms of the market: on May 27, Shanghai spot aluminum trading concentrated 12500-12520 yuan / ton, the monthly premium 130-140 yuan / ton, holders of high shipments actively, eager to exchange cash, take the initiative to reduce prices, middlemen and downstream do not recognize the spot price of high premium, wait-and-see-based, few transactions, 11 points, aluminum in the month straight up to 12450 yuan / ton, Shanghai, Wuxi holders bullish confidence doubled, sold at a high price, the source of circulation immediately tightened
.

Overall, today's Shanghai aluminum 1607 contract bottomed out to 12220 yuan / ton, as ferrous metals climbed strongly, improving market sentiment
.
At the same time, the US dollar index pulled back slightly during the day and U.
S.
crude oil futures maintained high operation, giving aluminum prices upward momentum
.
It is recommended that the Shanghai aluminum 1607 contract can sell high and low between 12100-12350 yuan / ton, and the stop loss is 100 yuan / ton
each.