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On Tuesday, the main monthly 1606 contract of Shanghai aluminum opened at 12,000 yuan, with an intraday high of 12,045 yuan and a low of 11,955 yuan, and closed at 12,035 at the end of the day, up 85 yuan / ton
from the previous trading day.
Recent China's economic data performance is optimistic to boost investor confidence, Shanghai aluminum rose slightly, but the current market news is relatively light, the upside of aluminum prices in the future market may be limited, it is recommended that investors can maintain a wait-and-see attitude
.
Externally, the decline of the US dollar index and the rebound of the stock market supported aluminum prices, Lun aluminum rose slightly, and the upper support focused on $
1600.
At 18:18 Beijing time, the LME 3-month aluminum was $1565.
5, up $0.
5 from the previous session
.
On the macro front, U.
S
.
crude oil futures continued to digest the bearish pressure caused by the abortion of the Doha frozen production agreement, and base metals were dragged down by this.
In addition, among China's 70 large and medium-sized cities in March residential sales price data, the number of rising cities is more than last month, 62 are up and 8 are down, and the overall increase is expanding, which to some extent improves China's aluminum market demand expectations in real estate, partially offsetting the pressure
of falling oil prices.
In terms of the market, the holders in East China controlled the shipment, the middlemen were willing to replenish at low prices, the downstream procurement volume was relatively stable, and the low-price transaction was more active
than yesterday.
Holders in South China are actively willing to sell at high prices, middlemen and downstream are afraid of heights, and the strength of receiving goods is weaker than yesterday, and the overall transaction difference is higher than yesterday.
Inventories in East China and South China continued to decrease, but the decline in South China was greater than that in Shanghai, and the premium water of Guangdong and Shanghai continued to expand
.
In the past week, Shanghai aluminum has shown signs of high rise and weakness, weaker than Lun aluminum, short-term need to be wary of technical pullback demand, but benefiting from the previous period of aluminum inventory for many consecutive weeks, its decline space or limited
.
