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Today's Shanghai aluminum main contract 1709 gap open, but the upward weakness, showing a high fall, indicating that its rising resistance is greater, intraday trading at 14535-14340 yuan / ton, the end of the day closed at 14375 yuan / ton, up 0.
38%, but down 1.
1% from the intraday high, but at present Shanghai aluminum effectively stabilized above the main moving average group, short-term can still hold more ideas
.
At the same time, the positive price difference between Shanghai-aluminum 1708 and 1709 contracts widened to 100 yuan / ton
.
In terms of external trading, LME aluminum oscillation rebound, but its rise is weaker than Shanghai aluminum, of which 3 months Lun aluminum trading at 1932-1921 US dollars / ton, now slightly up 0.
18% to 1927 US dollars / ton, the current Lun aluminum rebounded above the moving average group, indicating that after the release of downside risks, aluminum prices gradually stabilized
.
On the macro front, the Asian dollar index continued to fall under pressure and is now trading around 95.
67, close to the recent low of 95.
45
.
In addition, the number of initial jobless claims in the United States last week was 247,000, which was higher than expected, but still near a historical low and fell for the first time in a month, indicating that the general trend of tightening the US labor market has not changed
.
In the aluminum market, as of the end of June, the aluminum inventory of Japan's three major ports was 260,200 tons, down 2.
1% month-on-month and 17.
9% year-on-year, and monthly inventories hit the second lowest level since November last year, that is, slightly higher than the 250,300 tons
in April.
In terms of the market, on July 14, Shanghai aluminum trading concentrated 14140-14180 yuan / ton, the discount for the month was 70-50 yuan / ton, Wuxi transaction concentration was 14140-14180 yuan / ton, Hangzhou transaction concentration was 14180-14200 yuan / ton
.
Overnight aluminum rose sharply, showing a pullback, holders of high shipments are active, downstream enterprises are difficult to accept high prices, wait-and-see sentiment is strong, middlemen are less active, and the overall transaction is more and more cold
.
The Shanghai aluminum 1709 contract rebounded to close at 14375 yuan / ton, stronger than Lun aluminum, and the short-term rebound pattern maintained well, which means that bulls' confidence has further climbed, as the market hopes that the domestic electrolytic aluminum supply reform has entered the implementation stage
.
It is recommended that Shanghai Aluminum maintain more ideas
.
The Shanghai aluminum 1709 contract can be backed by 14220 yuan above the dip, the entry reference is around 14330 yuan, and the target reference is 14500 yuan
.
