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On Wednesday, the main monthly 1607 contract of Shanghai aluminum opened at 12355 yuan, with an intraday high of 12380 yuan and a low of 11995 yuan, and closed at 12065 at the end, down 220 yuan / ton
from the previous trading day.
The strong performance of the US housing market has strengthened the Fed's interest rate hike expectations, the upside of base metals is weak, Shanghai aluminum has fallen sharply, and aluminum prices may be weak in the short term, it is recommended that investors first maintain a wait-and-see attitude
.
In foreign countries, the Asian market early Lun aluminum upward high touched 1562 US dollars / ton, dragged down by the Shanghai aluminum crash, Lun aluminum down, noon Lun aluminum tried to rebound, but the recovery is limited, in the afternoon Lun aluminum followed the center of gravity of Shanghai aluminum continued to decline, the low touched 1539.
5 US dollars / ton
.
Entering the European and American session, Lun aluminum stabilized, as of 17:00, Lun aluminum recorded 1553 US dollars / ton, temporarily returning above the
daily moving average.
In terms of the market, the spot trading price of Yangtze River was 12330-12370 yuan / ton, down 80 yuan / ton; Guangdong South Reserve reported 12420-12520 yuan / ton, down 140 yuan / ton; Hua reported 12440-12460 yuan / ton, down 80 yuan / ton; The average domestic spot trading price is between
12300-12340 yuan / ton.
Intraday aluminum continued to fall, holders controlled shipments, middlemen and downstream willingness to receive goods increased compared with yesterday, and market transactions were more active
.
In terms of news, Rusal said that the global aluminum gap will further expand
this year.
On the demand side, although the growth rate of aluminum for construction has declined, the growth rate of aluminum for transportation will form a strong support
for aluminum prices in the future.
As the key object of supply-side reform, the desire of smelters to resume production is suppressed by policy factors, and the overall output is low and cannot keep up with demand growth
.
In the future, focus on the market's interpretation of the news of resumption of production, and it is expected that the aluminum market will fluctuate
.
