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On Wednesday, the main contract of Shanghai aluminum 1809 fell slightly under pressure, the trading range was 14080-14010 yuan / ton, and the end closed at 14025 yuan / ton, down 0.
36% on a daily basis, and the daily closing price was close to the low set on June 27 last year, and it is currently effectively running below the moving average group, and 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 75 yuan / ton
.
In terms of external trading, Asia Lun aluminum fell into a low oscillation, weaker than Lun zinc and resistant to falling other base metals, of which as of 15:22 Beijing time, 3-month LME aluminum reported 2028 US dollars / ton, down 0.
17% per day, at present Lun aluminum is still effectively running under the main moving average group, and the technical support below it focuses on 2000 US dollars / ton
.
In terms of the market, on July 18, Shanghai aluminum Shanghai trading concentration was 13900-13910 yuan / ton, the discount for the month was 80-70 yuan / ton, Wuxi transaction concentration was 13900-13910 yuan / ton, Hangzhou transaction concentration was 13910-13930 / ton
.
The market circulation increased slightly from the previous day, and middlemen and downstream maintained a stable procurement rhythm
.
The stability of aluminum ingot prices has created a stable
transaction in the spot market.
On the macro front, the Asian dollar index extended its overnight rally and is now trading at 95.
18, marking the second consecutive day of gains, mainly boosted by Powell's hawkish comments
.
Focus on US crude oil inventory data, as well as Eurozone CPI data
.
In terms of industry, US House Speaker Paul Ryan said: "Russia is trying to undermine democracy itself
.
We have passed tough sanctions against Russia to hold them accountable, and we are happy to consider further sanctions against the country, if recommended by the
relevant committees.
During the day, Shanghai aluminum 1809 oscillation sorted out to 14025 yuan / ton, partly suppressed by the US dollar rebound, but its performance resisted falling to Shanghai copper, showing that the inherent downward momentum of aluminum prices is not strong
.
At the same time, the recent continuous reduction of domestic aluminum social inventories is conducive to the rebound of aluminum prices, which will partially limit the decline space
of aluminum prices.
It is recommended that the Shanghai aluminum 1809 contract can be sold high and low between 13950-14250 yuan / ton, and the stop loss is 100 yuan / ton
each.
