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Today's Shanghai aluminum main month 1610 contract opened at 12065 yuan, intraday high 12235 yuan low 12000 yuan, and closed at 12220 at the end, up 155 yuan / ton
from the previous trading day.
On the eve of the release of the US July non-farm payrolls data, the market sentiment was more cautious, the dollar index was lower, and Shanghai aluminum rose sharply today, but the trend of aluminum prices in the future market still needs to maintain a cautious attitude and beware of repeated market conditions
.
On the macro front, affected by the floods, China's official manufacturing PMI in July was 49.
9, lower than the expected 50, but the Caixin PMI ended the trend of prosperity and drought below 50 in 16 months, reaching 50.
6
。 The ISM manufacturing index in the United States in July was 52.
6, less than expected, oil prices once fell below $40, marking a technical bear market, rekindling market concerns about global economic growth, countries continue to introduce new easing policies, Australia lowered the benchmark interest rate to a record low, Japan's fiscal stimulus package details were less than expected, new budget spending was only 7.
5 trillion yen, the Reserve Bank of Australia cut interest rates by 25 basis points to a record low, the Bank of England cut interest rates for the first time in seven years, and the benchmark interest rate was 0.
5% Revised down 25 basis points to 0.
25%.
In the short term, aluminum supply remains tight, affected by traffic blockages, aluminum ingot inflow is small, inventory continues to hit new lows, but does not rule out the possibility of hidden inventory, coupled with the poor situation in the next march, it may be difficult to maintain low inventory for a long time
.
Market: today's spot trading price of Yangtze River is 12560-12600 yuan / ton, up 90 yuan / ton; Guangdong South Reserve reported 12730-12830 yuan / ton, up 40 yuan / ton; Hua reported 12670-12690 yuan / ton, up 90 yuan / ton; The average domestic spot trading price is between
12560-12600 yuan / ton.
Today's aluminum rose slightly, holders followed the market, downstream and middlemen received goods cautiously, and market transactions were suppressed
.
