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Today's Shanghai aluminum main contract 1710 around 16430 yuan / ton oscillated widely, intraday trading at 16585-16185 yuan / ton, the end of the day closed at 16430 yuan / ton, a slight increase of 0.
49%, the daily closing price is close to the high set on October 24, 2011, but the daily increase is far less than Shanghai zinc, Shanghai nickel and Shanghai copper, but the overall rebound pattern is still good
.
At the same time, the positive price difference between Shanghai aluminum 1709 and 1710 contracts narrowed to 85 yuan / ton
.
In terms of external trading, LME aluminum rushed back down today, cutting some of the intraday gains, showing that there is resistance to its high rise, of which 3-month Lun aluminum traded at 2098-2063 yuan / ton, up 0.
63% from yesterday to 2076 US dollars / ton, the daily closing price is close to the high point since September 8, 2014, the last three days Lun aluminum high have shown signs of correction, short-term vigilance of downside risks
.
On the macro front, the Asian dollar index fluctuated in a narrow range and is now trading around
93.
5.
In addition, a total of 750 billion yuan of reverse repurchase expired in the open market this week, and 2300, 700, 2200, 1000 and 130 billion yuan of funds expired
from Monday to Friday.
Today, 180 billion yuan of reverse repurchase operations were carried out, with a net withdrawal of 50 billion yuan
.
In terms of industry, on August 21, SMM statistics domestic electrolytic aluminum social inventory (including SHFE warehouse receipts): the total inventory in the seven places was 1.
506 million tons, an increase of 33,000 tons
from last Thursday.
In terms of the market, on August 21, Shanghai trading concentrated 16130-16150 yuan / ton, the discount for the month was 230-220 yuan / ton, Wuxi transaction concentrated 16130-16150 yuan / ton, Hangzhou transaction concentrated 16140-16160 yuan / ton, holders of goods actively shipped, with the rise and the price raised, middlemen looking for low-priced sources, transaction prices tend to be low, some traders are looking for warehouse receipt sources, downstream enterprises purchase on demand, the overall transaction is warmer
than last Friday.
The intraday Shanghai aluminum 1710 contract oscillated to stabilize to 16430 yuan / ton, and with the operation of reducing positions, it showed that funds continued to flow out, mainly intraday trading, and the willingness to hold positions declined
.
However, in the context of the overall strong performance of non-ferrous metals, operationally, short-term can follow the trend to build more, it is recommended that the Shanghai aluminum 1710 contract can be backed above 16200 yuan to bargain long, the entry reference around 16350 yuan, the target is 16650 yuan / ton
.
