Shanghai aluminum wide range oscillation performance is weaker than Lun aluminum

In terms of external trading, today's Asian Lun aluminum around 1590 US dollars / ton around a narrow range, performance slightly resistant to other base metals, of which 3-month Lun aluminum slightly fell 0.
16% to 1597 US dollars / ton, running above the oscillation finishing platform in the past two weeks, showing that the upward breakthrough achieved last week is still effective, short-term Lun aluminum above the rebound resistance focus on 1620 US dollars / ton
.

Macro: Asian market dollar index oscillation rebound, basically recovered overnight losses, now trading around 94.
6, as this week focused on the Fed interest rate meeting, and because the UK will announce the Brexit referendum results next week, before the market risk aversion is high, the dollar index pullback range or limited, still expected to oscillate rebound, not conducive to base metals higher
.

Industry: Yesterday, six backbone aluminum companies including China Aluminum Corporation, State Power Investment, China Hongqiao, Jiushan Steel Group, Yunnan Aluminum and Jinjiang Group held a symposium in Beijing, but the above manufacturers did not reach an actual production reduction agreement for the time being, which disappointed market expectations
.

In terms of market: on June 14, Shanghai aluminum trading concentrated 12180-12190 yuan / ton, and the discount for the month was 10-20 yuan / ton
.
Approaching the month change, the price of the next month exceeded 200 yuan / ton, the holders were eager to exchange cash and ship actively, the aluminum month exchange was imminent and the aluminum downward trend, middlemen and downstream enterprises were cautious and waited for the month
change.
Among them, hope is tight in the near future, downstream enterprises in order to ensure production quality still purchase hope to push up hope that the brand price is slightly higher than that of Pu aluminum, the overall transaction is not as good as yesterday
.

Overall, today's Shanghai aluminum 1608 contract oscillation fell slightly to 11850 yuan / ton, weaker than Lun aluminum, due to the rebound of the US dollar index and the resumption of production concerns of domestic electrolytic aluminum plants
.
It is recommended that the Shanghai aluminum 1608 contract can sell high and low between 12000-11800 yuan / ton, and the stop loss is 100 yuan / ton
each.