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Market review, last Friday, base metals generally fell, indicating that aluminum prices continued to fall, and bears increased enthusiasm for entry
.
Among them, Shanghai aluminum volatility weakened, trading at 14120-14310 yuan / ton during the day, and closing at 14170 yuan / ton at the end of the day, down 0.
35%
on the day.
In the external market, as of 15:33 Beijing time, the 3-month Lun aluminum was reported at 1983.
0 US dollars / ton, down 0.
38% on the day, and the lower support level focused on 1970 US dollars / ton
.
In terms of the market, the spot price of Shanghai aluminum was concentrated in 14060-14080 yuan / ton, the discount for the month was 70-60 yuan / ton, Wuxi was concentrated 14060-14080 yuan / ton, and Hangzhou was concentrated 14100-14120 yuan / ton
.
The intermediary receives the goods actively during the day, mostly delivering long orders at the end of the month, and the downstream is basically purchased on demand, because the weekend stock transaction is
acceptable.
In terms of news, the Asian dollar index fluctuated widely, now trading around 96.
583, overnight due to Brexit and Italian budget events still no progress, coupled with the European Central Bank decision has not brightened, the pound and the euro continue to be suppressed and fall, the continued weakness of European currencies to help the dollar continue to strengthen
.
In terms of industry, the aluminum industry is becoming one of the important industries in Iceland, and the abundant power supply has created conditions
for the development of the aluminum industry due to Iceland's geothermal and hydroelectric energy.
Iceland imports large amounts of alumina and relies entirely on alumina to supply its smelters
.
Based on global import and export data, Iceland's imports in 2018 are estimated to be around 1.
713 million tonnes, up 1.
54%
from 1.
687 million tonnes in 2017.
During the day, the Shanghai aluminum shock weakened, affected by the continued strengthening of the US dollar index, the non-ferrous metal market was amplified, and the price generally fell; In the spot market, the downstream is basically purchased on demand, because the weekend stock transaction is acceptable
.
On the technical side, the MACD indicator crosses at a low level, and the futures price falls back below the moving average combination, which may maintain a volatile trend
in the short term.
Operationally, it is recommended that the Shanghai-aluminum 1812 contract sell high and sell low between 14100-14350 yuan / ton, and the stop loss reference is 100 yuan / ton
each.
