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On Thursday, the main force of Shanghai aluminum opened at 12085 yuan / ton, Shanghai aluminum shock at the beginning of the session, and then rose sharply, the high touched 12245 yuan / ton, the afternoon long and short high game is fierce, Shanghai aluminum shock, the end of the session short-term long position closed out of the market, Shanghai aluminum fell back to close at 12170 yuan / ton, up 170 yuan / ton
.
The main force of Shanghai aluminum stands firm on the 5-day moving average, and the competition for long and short highs is fierce, and it is expected that the recent Shanghai aluminum shock is strong
.
In terms of external trading, Lun aluminum opened at 1568 US dollars / ton, Asian market, crude oil is high, Shanghai aluminum is up, Lun aluminum is volatile upward, and the Asian market high touches 1578 US dollars / ton; Entering the European and American markets, Lun aluminum hit a high of 1582 US dollars / ton after being pressured to give up the Asian market gains, as of 16:00, Lun aluminum recorded 1565 US dollars / ton
.
On the macro front, weaker-than-expected U.
S.
employment data and European industrial production weighed on investors' confidence
in global economic growth and demand for base metals.
The European Parliament's overwhelming vote against recognizing China's market economy status is likely to affect China's efforts to stabilize foreign trade, and recent high-level speeches have cooled the large-scale stimulus, and the market is worried about whether the short-term economic stabilization can be sustained, and the base metals market sentiment has been affected
.
In the market, aluminum futures rose sharply by 1.
66%
in the second trading session after the initial volatility of the month.
The average domestic spot trading price is between
12140-12180 yuan / ton.
Aluminum rose sharply during the day, holders were reluctant to sell, and downstream worries about rising prices in the future market and positive willingness to receive goods, and the overall transaction was active
.
In terms of industry, two electrolytic aluminum plants announced yesterday that they have plans to resume production, involving an annual production capacity of 110,000 tons, and the expected shipment time is July to August
.
Neither company produces aluminum ingots
.
An alumina plant resumed production a week ago, covering an annual capacity of 400,000 tons
.
In addition, according to a report by the China Association of Automobile Manufacturers on the 11th, China's passenger car sales in April reported 1.
78 million units, a year-on-year increase of 6.
5%.
To sum up, Shanghai aluminum closed for two consecutive days after pulling back, and its position rose
steadily.
Spot prices are rising, indicating that downstream demand is still relatively stable
.
In the short term, maintain the view that Shanghai aluminum will fluctuate in a narrow range, and it is recommended to wait and see
for the time being.
