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Today's Shanghai aluminum 1607 contract continued to rebound, the performance continued to be stronger than other base metals, closing at 12435 yuan / ton, up 1.
72% from yesterday's closing price, the current Shanghai aluminum effectively running above M60, the technical trend is strong
.
In terms of external trading, the Asian market Lun aluminum oscillation slightly rose, the performance is much weaker than Shanghai aluminum, of which Shanghai aluminum closed only slightly up 0.
42% to 1556 US dollars / ton, the daily closing price is still close to the level of a month ago, the current Lun aluminum from this round of rebound high of 1686 US dollars / ton fell nearly 8.
6%.
Macro: The non-ferrous metals market has strengthened due to a strong rise in ferrous metals in Asia, but the increase has been relatively limited, as the US dollar index has maintained a relatively strong position and is now trading around 94.
4, thus putting a greater pressure
on non-ferrous metals.
Tonight, the market focuses on economic data such as US April CPI and new home sales, and expectations are neutral and bearish
.
In terms of market: on May 17, Shanghai aluminum trading concentrated 12420-12440 yuan / ton, and the premium for the month was 10-20 yuan / ton
.
Aluminum rose sharply overnight after the month of change, the spot price was higher than yesterday, the holder controlled the shipment, the East hoped that today did not ship, the circulation of aluminum ingots contracted compared with yesterday, yesterday's wait-and-see middlemen and downstream willingness to pick up the goods, the overall transaction was more active
than yesterday.
In terms of industry information, it is reported that the urban scope of urban rail transit that can be built in China may be expanded, which will increase the application space
of the aluminum industry.
Overall, today's Shanghai aluminum 1607 contract oscillated and rebounded to 12435 yuan / ton, continuing the short-term technical rebound, performing much stronger than other base metals, and continuing to attract funds to enter
.
It is recommended that the Shanghai aluminum 1607 contract can be backed by 12,300 yuan to bargain and build more, the entry point refers to around 12,380 yuan, and the target is 12,550 yuan / ton
.
