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Today's Shanghai aluminum 1610 contract rebounded weakly, basically maintained the overnight decline, sorted out to 12350 yuan / ton, down 0.
32% from yesterday's closing price, but at present, Shanghai aluminum is still stable on the moving average group, the technical form is obviously strong
.
In terms of external disk: Asian Lun aluminum oscillation slightly rose, performance resistance to other base metals, of which 3-month Lun aluminum slightly rose 0.
15% to 1654 US dollars / ton, this week Lun aluminum mainly stabilized above M60 oscillation finishing, the weekly operating range of 1666-1634 US dollars / ton, the volatility range narrowed significantly, the upper rebound resistance focused on 1700 US dollars / ton
.
Macro: The Asian dollar index fell slightly today, trading around 95.
8, but basically maintained its overnight gains
.
China's industrial value-added above designated size rose 6% year-on-year in July, lower than the expected increase of 6.
1%.
At the same time, the growth rate of fixed asset investment from January to July rose by 8.
1%, lower than the expected growth of 8.
8%, the data showed that the downward pressure on the domestic economy was greater, and the market rekindled the central bank's expectation of cutting interest rates and RRR cuts
.
In terms of market: on August 12, Shanghai aluminum trading concentrated 12610-12620 yuan / ton, and the premium for the month was 10-20 yuan / ton
.
Under the high price of Shanghai, the transaction is concentrated in the rigid demand of downstream enterprises, Wuxi holders are stable shipments, but slightly willing to raise prices, in the case of stable aluminum and good transactions, unwilling to lower prices to promote transactions, Wuxi spot discount to the month, middlemen are willing to receive goods positively, aluminum is stable, downstream improves the willingness to stock up on weekends, and the overall transaction is warmer
than yesterday.
Today's Shanghai aluminum 1610 contract oscillation sorted out to 12350 yuan / ton, still effectively stabilized above the moving average group, indicating that the upward momentum of Shanghai aluminum remains, as China's primary aluminum production in July continued to decline, and the supply-side reform of the aluminum market continued to advance
.
It is recommended that the Shanghai-aluminum 1610 contract can cautiously hold short long positions above 12250 yuan, and the target is 12550 yuan
.
