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On Friday, the main contract of Shanghai aluminum 1809 oscillated and rebounded, performing much stronger than Lun aluminum, trading in the range of 14435-14315 yuan / ton, and closing at 14400 yuan / ton, up slightly by 0.
49%
on the day.
In terms of term structure, Shanghai aluminum continued the positive arrangement of near, low, far and high, of which the positive price difference between Shanghai aluminum 1808 contract and 1809 contract remained at 90 yuan / ton
.
In terms of the external market, Asian Lun aluminum bottomed out, but the trading was very light, of which as of 15:38 Beijing time, the 3-month LME aluminum was reported at 2066 US dollars / ton, down 0.
07% per day, the current Lun aluminum is still effectively running at the interweaving of moving averages, the short-term decline risk has weakened, and the upper rebound resistance focuses on 2100 US dollars / ton
.
In terms of the market, on July 27, Shanghai aluminum trading concentrated 14200-14220 yuan / ton, the monthly discount was 90-80 yuan / ton, Wuxi transaction concentration was 14200-14220 yuan / ton, Hangzhou transaction concentration was 14200-14220 yuan / ton
.
Holders of stable shipments, spot discounts show signs of difficult expansion, intermediaries receive goods further improved, downstream enterprises are afraid of heights only according to just need to purchase, the overall transaction is more active, mainly from the transaction
between traders.
On the macro front, the Asian dollar index edged down 0.
1% under pressure, basically maintaining the overnight gain of as much as 0.
6%, and is now trading around 94.
64 as the European Central Bank kept interest rates unchanged and its plans to raise interest rates unchanged
.
In addition, China's profits of industrial enterprises above designated size increased by 20% year-on-year in June, slowing by 1.
1%
month-on-month.
The market is focused on the US GDP in the second quarter, which is expected to grow by as much as 4%
in the second quarter.
In terms of industry, on July 26, SMM statistics on domestic electrolytic aluminum consumption inventory (including SHFE warehouse receipts) totaled 1.
795 million tons, down 28,000 tons
from last Thursday.
At present, although the trade between the United States and Europe is temporarily truce, the uncertainty of international trade and monetary policy is still great.
The US dollar index has fluctuated sharply in the recent past, exchange rate risks have intensified, the prices of non-ferrous metals such as copper and zinc have shown a positive correlation with the macro economy, and the varieties with strong internal and external price linkage are also the most sensitive to the current foreign exchange market, and it is recommended to remain mainly wait-and-see
.
During the day, the Shanghai aluminum 1809 oscillation closed up to 14400 yuan / ton, which was stronger than other base metals
.
Recently, domestic aluminum social inventory has continued to decrease, which is still conducive to the rebound
of aluminum prices.
It is recommended that the Shanghai aluminum 1809 contract can be backed above 14250 yuan to bargain price, enter the market reference around 14320 yuan, and target 14500 yuan / ton
.
