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On Tuesday, the main contract of Shanghai aluminum 1807 fell under pressure, the performance was much weaker than other base metals, the intraday operating range was 14815-14715 yuan / ton, and the end of the day closed at 14725 yuan / ton, down 0.
51% from the previous trading day's closing price, Shanghai aluminum fell back to the moving average intertwined operation, showing long and short trading cautious
.
In terms of term structure, Shanghai aluminum continued the positive arrangement of near, low, far and high, in which the positive price difference between the Shanghai aluminum 1807 contract and the 1808 contract narrowed to 70 yuan / ton
.
In terms of external trading, Lun aluminum around 2260 US dollars / ton around a narrow range, of which as of 15:48 Beijing time, 3-month LME aluminum reported 2261 US dollars / ton, down 0.
26% per day, at present, Lun aluminum has not completely got rid of the recent oscillation range, highlighting the caution of long and short trading, Lun aluminum short-term operating range of 2230-2300 US dollars / ton
.
In terms of the market, on May 29, Shanghai aluminum trading concentrated 14640-14650 yuan / ton, the discount for the month was 60-50 yuan / ton, Wuxi transaction concentration was 14640-14650 yuan / ton, Hangzhou transaction concentration was 14660-14680 yuan / ton
.
Holders control shipments, circulation declines from the previous day, spot discounts narrow slightly, downstream enterprises purchase on demand, and the overall transaction is average
.
In terms of industry,
1.
Dongfang hopes that the third line of Jinzhong Aluminum with an annual output of 1 million tons of alumina project is expected to be put into operation
before October.
2.
The United States extends the deadline for exemption from tariffs on steel and aluminum products such as Canada, Mexico and the European Union, which expires
on Friday.
EU Trade Commissioner Malmström will meet
Wednesday in Paris with U.
S.
Commerce Secretary Wilbur Ross and U.
S.
Trade Representative Robert Lightheyzer.
3.
On the 28th Beijing time, according to the Russian Satellite News Agency, the Russian energy giant En+ Group assessed that affected by US sanctions, Rusal's aluminum production in 2018 may be reduced by 30% under the baseline scenario, and may be reduced by 50% to 70%
under the negative scenario.
During the day, the Shanghai aluminum 1807 oscillation sorted out to 14725 yuan / ton, as the dollar index maintained a relatively strong position
.
However, domestic aluminum inventories have recently shown signs of reduction, which has brought some support
to aluminum prices.
Operationally, it is recommended that the Shanghai-aluminum 1807 contract can be sold high and low between 14650-14850 yuan / ton, and the stop loss is 100 yuan / ton
each.
