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On Tuesday, the main contract of Shanghai aluminum 1709 came under pressure to pullback, but the decline was lower than yesterday's gain, intraday trading at 14560-14390 yuan / ton, the end of the day closed at 14425 yuan / ton, down 0.
83% per day, the performance is relatively resistant, and the aluminum price rose again after the correction, or sent a rising signal
.
At the same time, the positive price difference between Shanghai-aluminum 1708 and 1709 contracts widened to 115 yuan / ton
.
In terms of external disk, LME aluminum fell under pressure, of which 3-month Lun aluminum traded at 1919-1907 US dollars / ton, now slightly down 0.
52% to 1908 US dollars / ton, close to the level of July 12 in the year, the current London aluminum fell into a high wide range oscillation for the third consecutive week, showing long and short trading cautious
.
On the macro front, the Asian dollar index rebounded weakly, still trading near relative lows, close to the low set on May 2 last year
.
In addition, China's Caixin manufacturing PMI rose to 51.
1% in July, up 0.
7% month-on-month, hitting a four-month high, and manufacturing operations improved for two consecutive months, reversing a slight slowdown in May
.
Recently, Shandong Province triggered the "2017 Comprehensive Rectification Plan for Outstanding Problems in Environmental Protection", and issued a notice requiring all localities and departments to implement it, planning to limit or stop production of alumina and electrolytic aluminum from November 15, 2017 to March 15
, 2018.
In terms of the market, on August 1, Shanghai aluminum trading concentrated 14230-14240 yuan / ton, the discount for the month was 150-140 yuan / ton, Wuxi transaction concentration was 14230-14240 yuan / ton, Hangzhou transaction concentration was 14270-14290 yuan / ton
.
The market circulation supply is stable, the spot discount has expanded slightly, the willingness of middlemen to receive goods has been further improved, and downstream enterprises purchase on demand, and the overall transaction has warmed
up compared with yesterday.
During the day, the Shanghai aluminum 1709 contract fell under pressure to 14425 yuan / ton, but the decline was weaker than other base metals, indicating that after the short-term aluminum price decline risk was released, the willingness to stabilize and rebound remained, while Shandong Province will limit the production of alumina and electrolytic aluminum, which will bring upward momentum in the later period and will also attract funds to enter
.
In terms of operation, it is recommended that the Shanghai aluminum 1709 contract can be backed above 14300 yuan to bargain long, the entry reference is around 14380 yuan, and the target is 14550 yuan
.
