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On Wednesday, the strength of the outer plate of aluminum produced some support for Shanghai aluminum, Shanghai aluminum maintained a high level of shock operation in the morning, the center of gravity was above 18,000 yuan / ton, East China spot market, affected by the pressure of funds in the middle of the year and the end of the month, selling pressure still exists, aluminum ingot liquidity is relatively abundant, the month maintained a discount of 60-40 yuan / ton.
In terms of spot, LME aluminum spot discount was $13.
50/ton, compared with $17.
75/ton
in the previous trading day.
After the sharp decline in overnight trading in Shanghai aluminum that month, the center of gravity of the afternoon trading rose upward, but the overall center of gravity still fell more than 2% from yesterday to around 19100 yuan / ton, East China spot trading concentrated 19100-19120 yuan / ton, the opposite plate premium 10-30 yuan / ton, after the absolute price fell sharply, the holder of the price of the main
shipment.
In terms of stocks, LME stocks stood at 1,578,100 mt as of June 30, up 0.
09 million mt
from the previous session.
As of June 28, the social inventory of aluminum ingots fell by 19,000 tons from last week to 864,000 tons
.
The fundamentals have been slightly calm recently, the latest inventory data shows that the speed of destocking is still slowing down, some refineries with limited pre-production in Yunnan on the supply side are ready to resume production, and the consumer side is now at the end of the traditional peak season, and the downstream demand margin is weakening
.
In terms of price, since the supply and demand ends of aluminum will still benefit from the impact of the concept of "carbon neutrality" for a long time in the future, it is still recommended to treat it with a long idea in the cross-variety arbitrage strategy, and unilaterally it is also necessary to pay attention to the upcoming employment data in the United States on Thursday and Friday, when volatility may increase, and it is still recommended to wait and see in
the short term.
