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On Thursday, the main contract of Shanghai aluminum 1809 fell into a low oscillation, trading range of 14180-14035 yuan / ton, the end of the close at 14125 yuan / ton, a slight increase of 0.
32% per day, the daily closing price is close to the low set on June 27 last year, currently effectively running below the moving average group, the technical pattern is obviously bearish
.
In terms of term structure, Shanghai aluminum continued the positive arrangement of near, low, far and high, of which the positive price difference between Shanghai aluminum 1808 contract and 1809 contract remained at 80 yuan / ton
.
In terms of the external market, Asian Lun aluminum once again rushed back down, of which as of 16:07 Beijing time, 3-month LME aluminum reported 2055.
5 US dollars / ton, down 0.
24% per day, the performance is much weaker than Lun copper and London nickel, showing its weak rebound, the current Lun aluminum is still effectively running under the main moving average group, its technical support below focus on 2000 US dollars / ton, up to now this week has Lun aluminum fell 1.
5%, the same period London copper fell 1.
89%.
In terms of the market, on July 12, Shanghai aluminum trading concentrated 13970-13990 yuan / ton, the monthly discount of 10 yuan / ton to Pingshui, Wuxi transaction concentration 13970-13990 yuan / ton, Hangzhou transaction concentration 13980-13990 yuan / ton
.
Holders are actively shipping, the market has a part of 13950 yuan / ton of low-priced goods, middlemen except for a small number of spot delivery long orders, most of the middlemen receive less operation space, downstream enterprises to receive goods is weak, the overall transaction prosperity declined
.
On the macro front, the Asian dollar index oscillated slightly, basically maintaining the large increase recorded overnight, and is now trading around 94.
67, as the US PPI in June rose more than expected, raising expectations of four interest rate hikes by the Federal Reserve this year
.
But the U.
S.
Senate voted 88-11 overwhelmingly to pass a resolution restricting Trump's tariff authority, raising questions about whether the U.
S.
decision to impose tariffs on China can be implemented
.
Industry:
1.
The aluminum processing industry is an important part of China's aluminum industry and an important engine
to promote the sustainable development of the global aluminum processing industry.
In 2017, the asset scale of China's aluminum processing industry reached 813.
6 billion yuan, accounting for 49%
of the asset scale of the aluminum industry.
2.
Since last year, the United States has successively launched 332, 232, aluminum foil and aluminum plate double reverse investigation on China, and high punitive tariffs have reduced the monthly export volume of China's aluminum plate to the United States from 60,000 tons to less than 20,000 tons, and aluminum foil from more than 20,000 tons to 7,000 tons, a decrease of more than two-thirds
.
During the day, the Shanghai aluminum 1809 oscillation rose slightly to 14125 yuan / ton, driven by the strong rebound of surrounding Shanghai copper and Shanghai nickel
.
At the same time, the recent significant reduction in domestic aluminum social inventories is conducive to the rebound of aluminum prices, which will partially limit the downward space
of aluminum prices.
It is recommended that the Shanghai aluminum 1809 contract can be sold high and low between 14100-14300 yuan / ton, and the stop loss is 100 yuan / ton
each.
