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On Monday, the Shanghai aluminum 1706 contract opened at 13960 yuan / ton in the morning, after the opening of the bears took the initiative to pressure, Shanghai aluminum fell sharply, and then the long and short around the 13800 yuan / ton line of competition, the afternoon bears continued to pressure, aluminum prices fell to the low touched 13650 yuan / ton, the end of the session short profit, Shanghai aluminum has repeated, closed at 13695 yuan / ton
.
In terms of the external market, in the morning, Lun aluminum opened at 1904 US dollars / ton, the beginning of the session Lun aluminum slightly down to 1895.
5 US dollars / ton, and then the trading center of gravity slowly moved up, once stepped back to 1901 US dollars / ton, in the afternoon Lun aluminum fell again, into the European trading session, the US dollar rose sharply, Lun aluminum accelerated downward, the low touched 1881 US dollars / ton, as of 17:30, Lun aluminum broke 1880 US dollars, recorded an intraday low of 1879 US dollars / ton
.
Lun aluminum four consecutive negative, has completely broken the moving average group, the trading center of gravity continues to move down, Lun aluminum did not see a stop signal, the next platform 1855 US dollars / ton
.
On the macro front, the dollar hit its lowest level against the euro in about six months on Friday, and U.
S.
job growth rebounded strongly in April, but still outpaced the sentiment of investors bullish on the euro ahead of
Sunday's second round of voting by the French president.
USDJPY remained elevated as U.
S.
jobs data did not change its view
on the Fed's June rate hike, analysts said.
Crude oil prices rebounded
from five-month lows after Saudi Arabia confirmed to the market that Russia had agreed to jointly extend production limits with the Organization of the Petroleum Exporting Countries (OPEC) to address the supply-demand imbalance in the oil market.
In terms of the market, the aluminum diving low fluctuated before noon in the month, with Shanghai trading concentrated 13720-13730 yuan / ton, discount 20-10 yuan / ton for the month, Wuxi trading concentrated 13720-13730 yuan / ton, Hangzhou transaction concentrated 13750-13760 yuan / ton
。 Futures aluminum diving, spot performance than futures to resist the fall, spot discount narrowing tends to flat water, the willingness of the holders of spot value to hold up the price is positive, the futures aluminum reverse fall, spot discount narrowing tends to flat water, middlemen have no room for operation, wait-and-see sentiment breeds, downstream enterprises bargain on the low stable procurement, the overall transaction has fallen, showing supply and demand tug-of-war
.
In the late afternoon, aluminum continued to fall that month, and the willingness of the holders to raise the price was strong, and the shippers decreased in the afternoon, and the price was concentrated at 13650-13710 yuan / ton, and the transaction was very small
.
At present, aluminum prices have rebounded after a short rebound, mainly due to the continuous increase in aluminum inventories on domestic exchanges
.
Entering the off-season, the demand for aluminum market has declined, and buyers mainly
purchase on demand.
In terms of trends, aluminum prices will continue to fall in the short term, as long as there is a rebound to continue to be empty
.
