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On Wednesday, the main contract of Shanghai aluminum 1711 fell for the third consecutive day, showing that the upper selling pressure was heavier, and the decline expanded significantly, trading at 16605-16315 yuan / ton during the day, and closing down to 16385 yuan / ton at the end of the day, down 1.
09% on the day, down 0.
6%
from the intraday high.
However, at present, the technical form of Shanghai aluminum is still strong, and the rebound pattern still exists
.
At the same time, the positive price difference between Shanghai-aluminum 1710 and 1711 contracts remained at 100 yuan / ton, indicating that the performance of forward contracts was slightly resistant
.
In terms of external trading, Yashi Lun aluminum continued to fall under pressure, falling for three consecutive days, of which 3-month Lun aluminum traded at 2095-2072 yuan / ton, down 0.
38% from yesterday to 2084 US dollars / ton, back to the level of
a week ago.
At present, Lun aluminum has oscillated from a high level, showing that the short side is mainly dominated by the short side
.
On the macro front, the Asian dollar index continued to fall under pressure and is now trading around 92.
3, as U.
S.
factory orders fell 3.
3% month-on-month in July, the biggest
decline in nearly three years.
In addition, the People's Bank of China has a net withdrawal of 120 billion yuan in the open market, and the first 28-day reverse repurchase operation since June 19, aiming to stabilize the market capital level
.
In terms of industry, it is reported that Qujing Aluminum has ended a four-year production reduction period, and the production capacity of 380,000 tons / year of electrolytic aluminum has fully recovered
.
In terms of the market, on September 6, Shanghai aluminum trading concentrated 16070-16080 yuan / ton, the discount for the month was 150-130 yuan / ton, Wuxi transaction concentration was 16070-16080 yuan / ton, Hangzhou transaction concentration was 16070-16090 yuan / ton, holders of shipments are positive, some traders take advantage of the low, the intensity of receiving goods is far less than yesterday, downstream enterprises are more willing to receive goods than yesterday, and the overall transaction is colder
than yesterday.
During the day, the Shanghai aluminum 1711 contract fell under pressure to 16385 yuan / ton, further confirming that the upper selling pressure was heavier, and the performance was worse than that of Shanghai copper, during which it was accompanied by the operation of reducing positions and releasing volume, showing that the short-term is dominated by bears, and short-term operation ideas may need to change from range oscillation to cautious short
.
It is suggested that the main force of Shanghai aluminum can be backed by 16,600 yuan at a high altitude, with an entry reference of around 16,450 yuan, and a target of 16,200 yuan
.
