June 21 aluminum market morning review

Market: On June 20, Shanghai aluminum trading concentrated 12280-12330 yuan / ton, and the premium for the month was 90-110 yuan / ton
.
The price of the Yangtze River is lower than the expectations of the holders, coupled with the second wave of aluminum in the future, the willingness of the holders to ship has dropped sharply, the price is reluctant to sell, the spot price rises with the market, the middleman is bullish on the spot price, the willingness to replenish the stock rises with the plate, the circulating source in the market is quickly digested by the middleman, the downstream purchases on demand, and the hot transaction is concentrated among
traders.

In terms of inventories: as of June 20, LME aluminum stocks reported 2441175 tons, down 5,025 tons from the 17th, close to the low of 2445525 tons set on January 14, 2009; At the same time, as of June 17, the last period of aluminum stocks reported 204735 tons, down 4,817 tons from last week, the decline has expanded, still the twelfth decrease in the past 13 weeks, close to the low point since March 27 last year
.

Overnight, the main contract of Shanghai aluminum oscillation rose to 12125 yuan / ton, boosted by the pressure of the US dollar index and the strong rise of US crude oil futures, the current Shanghai aluminum re-stabilized above M60, but the performance is still slightly stagflant in Lun aluminum, so the operation needs to be differentiated
.
It is recommended that the Shanghai aluminum 1608 contract can be backed above 12,000 yuan to be cautious and short, enter the market reference around 12080 yuan, and target 12250 yuan
.