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The main monthly 1606 contract of Shanghai aluminum opened at 12,810 yuan, with an intraday high of 12,980 yuan and a low of 12,765 yuan, and closed at 12,820 at the end of the day, down 20 yuan / ton
from the previous trading day.
The recent performance of the US property market is mixed, the spread of market pessimism has put pressure on the trend of the metal market, Shanghai aluminum has fallen slightly, the short-term long-short game has intensified, and the aluminum price may maintain a volatile pattern
after the market.
On the macro front, abroad, the Fed meeting was slightly hawkish, and the market generally expects the timing of interest rate hikes to be postponed to September
.
Australia's Q1 CPI was -0.
2% m/m, 0.
2% expected, 0.
4% prior; 1.
3% y/y, 1.
7% expected, 1.
7%
prior.
The Australian dollar fell sharply against the dollar
.
As China's economy slows, Australia's economy, which relies on exports of resources to China, is crumbling
.
In March, the national railway completed 274 million tons of freight volume, down 6.
4% year-on-year; In the first quarter, the national railway completed 791 million tons of freight transportation, down 9%
year-on-year.
In addition, the profit of China's industrial enterprises above designated size in March was 11.
1% year-on-year; The profit of industrial enterprises above designated size from January to March was 7.
4% year-on-year, and from January to February it was 4.
8%
year-on-year.
Domestic economic data generally improved in March
.
In terms of the market, yesterday's goods rose first and then declined, and the spot market price also fluctuated
.
The spot trading price of Yangtze River during the day was 12820-12860 yuan / ton, down 10 yuan / ton; Guangdong South Reserve reported 12850-12950 yuan / ton, up 30 yuan / ton; Hua reported 12930-12950 yuan / ton, down 10 yuan / ton; The average domestic spot trading price is between
12830-12870 yuan / ton.
Holders in the market are willing to sell positively, but downstream fear of high receiving is suppressed, and the overall transaction is light
.
Overall, yesterday's aluminum rally was weak, and the market was weak throughout the day
.
Spot prices are weak to rise, holders are difficult to ship, downstream believes that the current price is high, procurement is still based on rigid demand, and the overall market transaction is average
.
In terms of operation, it is still recommended to wait and see, and activists can try more than 12750 yuan / ton light position to try long-term short-term operation, stop loss 12550 yuan / ton
.
