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On Monday, the main contract of Shanghai aluminum 1808 fell under pressure, and the decline further expanded, closing at 13975 yuan / ton, down 1.
34% on a daily basis, and trading at 14165-13945 yuan / ton during the day, and the daily closing price hit a new low
in 3 months.
In terms of term structure, Shanghai aluminum continued the positive arrangement of near low and far high, among which the positive price difference between Shanghai aluminum 1808 contract and 1809 contract slightly widened to 75 yuan / ton, indicating that the forward contract has increased
its willingness to decline.
In terms of external trading, Asia Lun aluminum continued to decline, of which as of 15:50 Beijing time, the 3-month LME aluminum was reported at 2117 US dollars / ton, down 0.
68% daily, the current Lun aluminum effectively runs below the main moving average group, showing that the upper selling pressure is heavier, and the technical support below is concerned about 2050 US dollars / ton
.
On the macro front, the Asian dollar index oscillated and rebounded, partially cutting Friday's losses and now trading around 94.
8, but the dollar index has been consolidating at the high level for more than two weeks, indicating that the high rise is weak, and it is still necessary to be vigilant about the risk of
pullback.
In addition, China's official manufacturing PMI fell month-on-month in June, deepening market concerns about
China's economic slowdown.
In terms of industry, the purchase price contract of Weiqiao pre-baked anode in July was determined to fall by 100 yuan / ton
.
In terms of spot, on July 2, Shanghai aluminum trading concentrated 13930-13950 yuan / ton, the discount for the month was 70-60 yuan / ton, Wuxi transaction concentration was 13930-13950 yuan / ton, Hangzhou transaction concentration was 13930-13950 yuan / ton
.
Holders of stable shipments, middlemen take advantage of the space caused by the upward movement of aluminum, receive goods more actively, downstream enterprises purchase on demand, and the overall transaction is more active, mainly between traders
.
During the day, Shanghai aluminum 1808 continued to fall to 13975 yuan / ton under pressure, indicating that the upper selling pressure was still heavy
.
However, the recent continuous rise in oil prices has brought some support to aluminum prices, and it is not appropriate to further chase short in the short term, and it is recommended to adopt range oscillation operations
.
It is recommended that the Shanghai aluminum 1808 contract can be sold high and low between 13900-14100 yuan / ton, and the stop loss is 80 yuan / ton
each.
