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Today's domestic aluminum market performance continues to be stronger than other base metal markets, Shanghai aluminum main contract 1706 continued to rebound, operating range 14075-14265 yuan / ton, especially in the afternoon significantly pulled up, thus driving other base metals higher, the upper rebound resistance to focus on 14300 yuan / ton
.
At the same time, the positive price difference between Shanghai aluminum 1705 and 1706 contracts widened to 120 yuan / ton
.
External: The LME market is closed today and next Monday
.
As of April 13, Lun aluminum closed at 1918 US dollars / ton, still barely stable above M60, indicating that after the short-term pullback risk was released, the willingness of aluminum prices to fall has weakened, and the technical support below it focuses on 1900 US dollars / ton, and the rebound resistance is 2000 US dollars / ton
.
Macro: The U.
S.
dollar index fell 0.
58% under pressure overnight, and the Asian market continued to trade around
100.
23.
In addition, China's imports rose 26.
3% year-on-year in March, well above expectations of 15% and 44.
7% in the previous month, and exports rose 22.
3% year-on-year in March, higher than expected growth of 8% and 4.
2%
in the previous month.
Aluminum industry information, as of April 13, SMM statistics domestic electrolytic aluminum spot inventory, Shanghai area 255,000 tons, Wuxi 431,000 tons, Hangzhou 80,000 tons, South China Sea 379,000 tons, Gongyi 77,000 tons, the total inventory of the five places is 1.
222 million tons, an increase of 33,000 tons
from last Thursday.
In terms of market: on April 14, Shanghai aluminum trading concentrated 13860-13910 yuan / ton, the discount for the month was 100-80 yuan / ton, Wuxi transaction concentration was 13850-13910 yuan / ton, Hangzhou transaction concentration was 13890-13910 yuan / ton
。 In the first stage, aluminum shock, some smelters actively shipped, spot transaction price concentrated 13860-13880 yuan / ton, aluminum showed signs of rising, traders inquiry and willingness to receive goods positively, downstream enterprises weekend stocking time has been moved from Friday to Thursday to start, intraday receipt did not see a significant improvement, the second stage, aluminum to help traders and downstream enterprises to receive enthusiasm, holders closely follow the price adjustment, spot quotation moved up to 13880-13910, traders inquiry positive, However, the transaction side is waiting and seeing, and the overall transaction is still active
.
The Shanghai aluminum 1706 contract rose strongly to 14225 yuan / ton during the day, effectively running above the moving average group, indicating that its willingness to rise is strong, and the bulls gradually gain the upper hand
.
It is recommended that the Shanghai aluminum 1706 contract can be backed above 14100 yuan to bargain more, the entry reference is around 14180 yuan, and the target is 14400 yuan / ton
.
