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Today's Shanghai aluminum main contract 1707 oscillation rebound, performance resistance to fall in other base metals, intraday trading at 13920-14130 yuan / ton, the end of the close at 14090 yuan / ton, up 0.
75% daily, the current Shanghai aluminum operating range is getting narrower, long and short direction breakthrough is imminent
.
At the same time, the positive price difference between Shanghai-aluminum 1706 and 1707 contracts narrowed to 65 yuan / ton
.
External: LME aluminum continued to rebound today, the highest intraday touched 1957.
5 US dollars / ton, close to the previous high of 1973 US dollars / ton, of which 3 months Lun aluminum now rose 0.
44% to 1956 US dollars / ton, the current Lun aluminum technology form is stronger than Shanghai aluminum, the lower technical support focus on 1900 US dollars / ton
.
Macro: The Asian dollar index continued to fall under pressure and is now trading around 96.
95, hitting a new low
in more than six months.
In addition, international rating agency Moody's downgraded China's long-term local and foreign currency issuer ratings to A1 from Aa3 to A1, and slightly stabilized
its rating outlook from negative adjustments.
Aluminum industry information, domestic electrolytic aluminum social inventory, Shanghai area 266,000 tons, Wuxi 437,000 tons, Hangzhou 78,000 tons, Gongyi 64,000 tons, South China Sea 324,000 tons, the total inventory of the five places is 1.
169 million tons, down 05,000 tons from last Thursday
.
Market: Before 11 o'clock on May 25, Shanghai aluminum trading concentrated 13810-13820 yuan / ton, the discount for the month was 100-90 yuan / ton, Wuxi trading concentrated 13810-13820 yuan / ton, after the sharp rise at 11 o'clock, the price of Shanghai Wuxi and Wuxi was raised to 13840-13860 yuan / ton
.
Hangzhou transaction concentration of 13820-13850 yuan / ton
.
Intraday smelter shipments decreased, before the big rise, traders actively shipped, after the big rise, traders sold at a high price, after the middleman rose sharply, the inquiry was positive, but it was difficult to find a suitable source, the downstream prepared the goods earlier, the overall transaction was slightly better than yesterday, not as good as the previous day's stocking peak
.
The strength of the Dragon Boat Festival stock is not as expected
.
The Shanghai aluminum 1707 contract oscillated to 14,090 yuan / ton, outperforming other base metals, partly driven
by the recent strong rise in crude oil futures.
In terms of operation, it is recommended that the Shanghai aluminum 1707 contract can be backed above 13950 yuan, with an entry reference of around 14050 yuan and a target reference of 14200 yuan
.
