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On Tuesday, the main contract of Shanghai aluminum 1709 fell under pressure, trading at 14500-14285 yuan / ton during the day, and closing at 14350 yuan / ton at the end of the day, down 1.
03% per day, performing worse than other base metals, but at present, Shanghai aluminum is still effectively stabilized above the moving average group, and maintains more ideas
in the short term.
At the same time, the positive price difference between Shanghai aluminum 1708 and 1709 contracts remained at 105 yuan / ton
.
In terms of external trading, LME aluminum continued to fall under pressure, for the second consecutive day of decline, showing the weakest among base metals, of which 3 months Lun aluminum trading at 1918-1899 US dollars / ton, now down 0.
58% to 1901 US dollars / ton, at present Lun aluminum is still trapped in the average line intertwined operation, showing that long and short trading repeatedly, short-term operation direction is not clear
.
On the macro front, the Asian dollar index continued to fall under pressure and is now trading around 94.
7, a new low
since September 6 last year.
In addition, residential sales prices in 70 large and medium-sized cities in China rose by 10.
2% year-on-year in June, and the growth rate continued to fall
.
In the aluminum market, as of July 17, SMM statistics domestic electrolytic aluminum spot inventory, Shanghai area 269,000 tons, Wuxi 511,000 tons, Hangzhou 86,000 tons, Gongyi 84,000 tons, South China Sea 292,000 tons, the total inventory of the five places is 1.
242 million tons, down 06,000 tons
from last Thursday.
In terms of the market, on July 18, Shanghai aluminum trading concentrated 14150-14170 yuan / ton, the discount for the month was 170-120 yuan / ton, Wuxi transaction concentration was 14150-14170 yuan / ton, Hangzhou transaction concentration was 14170-14190 yuan / ton
.
Aluminum pullback at a high level, holders actively shipped, aluminum changed months in the month, the early spot discount expanded to 170 yuan / ton, middlemen have room to operate, downstream enterprises purchase according to just needs, and the overall transaction shows a hot and cold state
before and after.
During the day, the Shanghai aluminum 1709 contract fell under pressure to 14350 yuan / ton, the performance slightly resisted the decline in Lun aluminum, and the short-term rebound pattern remained good, which means that bulls' confidence further climbed, as the market hoped that the domestic electrolytic aluminum supply reform entered the implementation stage
.
However, as domestic primary aluminum production continued to reach a new high in June, it is necessary to be wary of the suppression
of aluminum prices.
The Shanghai aluminum 1709 contract can be backed above 14200 yuan to buy at a pullback, with an entry reference around 14300 yuan, and a target of 14500 yuan
.
