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On Wednesday, the main 1809 contract of Shanghai aluminum opened at 14040 yuan / ton in the morning, and the opening was hit by a wave of short-term pressure to touch the low, recording the lowest trading price of the day of 14010 yuan / ton, relying on the 10,000 integer mark and the 5-day moving average, the price touched low and rebounded, touching 14060 yuan / ton, the morning session is more around 14050 yuan / ton to do narrow sorting, in the afternoon, base metals affected by the rise of the US dollar to varying degrees of decline, Shanghai aluminum followed by pressure on the daily moving average, the center of gravity slightly moved down to 14030 yuan / Near ton, until the end of the daily session around the 5-day and 10-day moving averages narrow range, at the end of the session, the short short exit rose slightly at 14050 yuan / ton, closed below the daily moving average of 14025 yuan / ton, down 20 yuan / ton, down 0.
14%.
In terms of external trading, Lun aluminum opened at 2034 US dollars, the morning session is mostly based on the daily moving average at 2035-2037 US dollars / ton for narrow finishing, intraday briefly touched the intraday high of 2039 US dollars / ton, in the afternoon by the US dollar index broke the 95 mark and continued to rise, Lun aluminum under pressure to give up the morning gains, along the daily moving average below, testing down 2024 US dollars / ton
.
After entering the European trading session, Lun aluminum recovered at a low level, with a fluctuation of less than $5 / ton around the daily moving average of $2030 / ton
.
As of 17:00, Lun Aluminum reported 2029.
5 US dollars / ton
.
In terms of the market, the intraday market trend is tangled, the favor of funds is low, the activity of holding transactions is low, and the strength of positions has shifted
slightly backward.
Alumina cost increase dependent, there is no real progress in the Putt meeting, Russian aluminum sanctions are pending, due to the lack of clear price logic, short-term maintenance of range volatility, the support of the Wansi mark is still significant
.
In the spot market, aluminum fluctuated
in a narrow range before noon of the month.
Shanghai transaction concentration is 13900~13910 yuan / ton, the discount for the month is 80~70 yuan / ton, Wuxi transaction concentration is 13900~13910 yuan / ton, Hangzhou transaction concentration is 13910~13930 / ton
.
The market circulation increased slightly from the previous day, and middlemen and downstream maintained a stable procurement rhythm
.
The stability of aluminum ingot prices has created a stable
transaction in the spot market.
Industry information, customs data show that unwrought aluminum and aluminum exports in June were 510,000 tons, an increase of 25,000 tons from the previous month and a year-on-year increase of 10.
9%.
In the first six months of this year, China exported a total of 2.
715 million tons of unwrought aluminum and aluminum products, an increase of 11.
3%
year-on-year.
Good news
.
In terms of inventory, during the day, the aluminum warehouse receipt of the previous period was 729972 tons, down 1073 tons
from the previous trading day.
As of July 18, LME aluminum stocks increased by 23,800 tons to 1198875 tons
.
On the whole, the performance of domestic macro data is weak, aluminum prices or pressure, many alumina plants in Shanxi have stopped production and maintenance and flexible production, and alumina prices have stopped falling and rebounded, which is good for aluminum prices
.
Technically, KDJ indicators or dead cross, MACD indicators red column amplification, it is expected that the main force of Shanghai aluminum 1809 oscillation is strong, the operating range is 13900--14400, for reference
only.
