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Overnight, the main force of Shanghai aluminum opened at 14150 yuan / ton, Weiqiao, Xinfa production reduction rumors again, bulls actively increased positions, aluminum prices rose to the 5-day moving average, bears tried to exert pressure, aluminum around the 5-day moving average above the oscillation, in the continuous increase of bulls, Shanghai aluminum mid-market finally recorded a high of 14255 yuan / ton, the momentum of the bulls weakened later, aluminum prices fell slightly back to 14230 yuan / ton around the shock, closing at 14235 yuan / ton
.
The trading volume decreased by 113,000 lots to 65,142 lots, and the position increased by 11,788 lots to 271258 lots
.
In the case of more than 10,000 hands of bulls, the price of aluminum rose by 130 yuan / ton, the upward momentum was slightly insufficient, today's inertia rushed up, up to test the recent high of 14305 yuan / ton, but you need to beware of the high level after the rumor fermentation, it is expected to run 14150 ~ 14320 yuan / ton
within the day.
Spot discount 110~70 yuan / ton
.
In terms of the market, on the same day, the spot price of A00# aluminum was 13820 yuan / ton, down 130 yuan / ton from the previous day, and the discount of 160 yuan / ton compared with the near-month contract, due to the preservation of value, the spot discount narrowed, the holder actively shipped, the middleman was mainly downstream to receive goods, the spot price fell sharply, the downstream enterprises were willing to bargain on the dip and purchase, the overall transaction was warmer than yesterday, and mainly focused on actual demand
.
In terms of news, data from the China Association of Automobile Manufacturers showed that automobile production and sales returned to positive growth in June, with production and sales increasing by 4.
6% and 3.
8%
year-on-year in the first half of the year, respectively.
However, when the aluminum market is weak in the off-season consumption, inventories are rising, fundamentals continue to weaken, and the pressure on prices is not reduced, but the capacity reduction policy is still the main factor
leading the price trend.
Short-term price highs are likely to fall, and continued rise needs to be supported
by further production cuts.
In terms of operation, it is better to wait and see in the short term, and the medium-term is mainly
based on bargain hunting.
