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Today's Shanghai aluminum main contract 1706 fluctuated in a narrow range around 14380 yuan / ton, trading at 14450-14335 yuan / ton intraday, and unchanged from yesterday at 14375 yuan / ton
.
At present, Shanghai aluminum still continues to run above the main moving average group, and the rebound pattern remains good
.
At the same time, the positive price difference between Shanghai-aluminum 1705 and 1706 contracts remained at 80 yuan / ton
.
External trend: LME aluminum rushed higher and fell again today, showing heavier selling pressure above, of which 3-month Lun aluminum slightly fell 0.
26% to $1945 / ton, but it is still barely stable above the moving average group, the technical form is stronger than other base metals, and the support below is focused on $1900 / ton
.
On the macro front: The Asian dollar index traded around 98.
86, near the low set on November 11, 2016, as the market continued to digest the positive boost from the results of the first round of elections in France
.
Meanwhile, U.
S.
building permits were revised up 4.
2% in March, at an annual rate of 1.
267 million, better than the initial reading
.
Aluminum industry information, on April 27, SMM statistics domestic electrolytic aluminum spot inventory, Shanghai area 257,000 tons, Wuxi 444,000 tons, South China Sea 356,000 tons, Hangzhou 78,000 tons, Gongyi 71,000 tons, the total inventory of the five places is 1.
206 million tons, down 12,000 tons
from last Thursday.
Spot: On April 27, Shanghai aluminum trading concentrated 14160-14180 yuan / ton, the discount for the month was 140-130 yuan / ton, Wuxi transaction concentration was 14160-14170 yuan / ton, Hangzhou transaction concentration was 14190-14200 yuan / ton
.
Smelters and traders shipped positively, yesterday's receiving traders turned to shipments, middlemen received goods weaker than yesterday, mainly concentrated on low-price transactions, downstream enterprises stocked May Day holiday inventory, the overall transaction activity fell slightly compared with yesterday
.
The Shanghai aluminum 1706 contract oscillated flat to 14375 yuan / ton during the day, and the current Shanghai aluminum is barely above the main moving average group, and the rebound pattern remains good, but due to the supply-side reform policy details have not been further implemented, long and short short-term trading is cautious
.
In terms of operation, it is recommended that the Shanghai aluminum 1706 contract can be backed above 14200 yuan to bargain long, the entry reference is around 14350 yuan, and the target is 14500 yuan / ton
.
