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Today's Shanghai aluminum main contract 1705 wide oscillation, the operating range is 13980-13720 yuan / ton, the end of the close at 13805 yuan / ton, down 0.
54% on the day, the daily closing price runs at the intersection of moving averages, showing that long and short trading is cautious, its lower technical support focuses on 13600 yuan / ton, and the upper rebound resistance focuses on 14000 yuan / ton
.
At the same time, the positive price difference between Shanghai-aluminum 1704 and 1705 contracts remained at 90 yuan / ton, indicating that the willingness of forward contracts to fall has increased
.
In terms of external disk: Yashi Lun aluminum around 1920 US dollars / ton around a narrow range, the operating range is 1932-1914 US dollars / ton, of which 3 months Lun aluminum flat at 1920 US dollars / ton, the fluctuation is gentler than Shanghai aluminum, the current Lun aluminum is still stable above the moving average group, its upper rebound resistance focus on 1950 US dollars / ton
.
Macro: The dollar index rebounded weakly this morning, maintaining its larger overnight decline (-0.
64%), now trading around 99.
78 as the UK CPI exceeded the inflation target of 2% in February, increasing the possibility
of future interest rate hikes by the Bank of England.
In addition, many cities in China have recently increased the control of the real estate market, which has triggered market concerns
about real estate adjustment.
Aluminum industry information, industry insiders said that due to the sharp rise in coal prices in the past six months, the electricity fee of Guizhou electrolytic aluminum plant will be raised by 7-8 points
per degree in early April.
In terms of market: on March 22, Shanghai aluminum trading concentrated 13510-13520 yuan / ton, the discount for the month was 170-150 yuan / ton, Wuxi transaction concentration was 13510-13520 yuan / ton, Hangzhou transaction concentration was 13510-13550 yuan / ton
。 Aluminum futures after yesterday's afternoon after the sharp rise overnight began to fall back to the morning back to yesterday's noon price, the holder controls shipments, especially yesterday afternoon received the goods due to the loss of shipment, middlemen and downstream enterprises to receive goods willingness to increase than yesterday, the first transaction stage of the transaction is better, resulting in the holder to raise the quotation, supply and demand at both ends of the deadlock, the overall transaction is more active than yesterday, and concentrated in the early stage
of the transaction.
The Shanghai aluminum 1705 contract oscillated to 13805 yuan / ton during the day, as the production of primary aluminum in February decreased significantly, and the performance was much stronger than other base metals
.
In view of the fact that Shanghai aluminum is still stable above M60, the short-term Shanghai aluminum 1705 contract can maintain a long idea, can be backed above 13680 yuan to bargain long, the entry reference around 13780 yuan, the target of 14000 yuan / ton
.