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Today's Shanghai aluminum main contract 1707 oscillation rebound, intraday trading at 13805-13660 yuan / ton, but the performance stagnation in copper and zinc, the end of the close at 13785 yuan / ton, slightly up 0.
69%, the current Shanghai aluminum to the fall after breaking, did not further expand the decline, but fell into a low oscillation, indicating that its willingness to fall is not strong
.
At the same time, the positive price difference between Shanghai aluminum 1706 and 1707 contracts narrowed to 40 yuan / ton
.
External market trend: LME aluminum around 1900 US dollars / ton around a narrow range fluctuations, of which 3 months Lun aluminum trading at 1922-1903 US dollars / ton, now slightly up 0.
68% to 1917 US dollars / ton, the current London aluminum close to the low point on May 12 this year, the technical support below focus on 1860 US dollars / ton
.
On the macro front, the Asian dollar index traded around 96.
7, near a new low in more than six months, and today the market focused on the European Central Bank interest rate and the UK election
.
In addition, China's exports rose 8.
7% year-on-year in May, while imports rose 14.
8% year-on-year in May, both of which were higher than expected, improving market concerns about
China's economic slowdown.
In the aluminum market, customs data show that China's unwrought aluminum and aluminum exports in May were 460,000 tons, an increase of 30,000 tons or 6.
97% month-on-month, an increase of 9.
52% year-on-year, monthly exports hit a new high since December 2014, and China's cumulative exports of unwrought aluminum and aluminum from January to May were 1.
95 million tons, an increase of 50,000 tons or 2.
63%
year-on-year.
In terms of the market, on June 8, Shanghai aluminum trading concentrated 13630-13640 yuan / ton, the discount for the month was 80-50 yuan / ton, Wuxi transaction concentrated 13620-13640 yuan / ton, Hangzhou transaction concentrated 13620-13630 yuan / ton
.
Holders stable shipments, aluminum stabilized upward, at the end of the day there were some traders reluctant to sell bullish phenomenon, quotations could not rise, spot discount slightly expanded, downstream enterprises willingness to receive goods slightly increased, spot prices and discounts stable so that the activity of middlemen remained low, the overall transaction was slightly better
than yesterday.
The Shanghai aluminum 1707 contract oscillated and rebounded to 13785 yuan / ton during the day, which has not effectively broken through the upper moving average suppression, but it also means that the short-term aluminum price decline willingness has weakened, and the operation needs to be cautious
.
It is recommended that the Shanghai aluminum 1707 contract can be backed by 13900 yuan below the sky, the entry reference is around 13800 yuan, and the target is 13700 yuan / ton
.
