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Today's Shanghai aluminum main contract 1708 again rushed back down, intraday trading at 13795-13700 yuan / ton, the performance is far resistant to fall in copper and zinc, the end of the day closed at 13705 yuan / ton, slightly down 0.
29%, the current Shanghai aluminum to fall after breaking, did not further expand the decline, but fell into a low oscillation, showing that long and short trading is still cautious
.
At the same time, the positive price difference between Shanghai aluminum 1707 and 1708 contracts narrowed to 50 yuan / ton
.
In terms of external trading, LME aluminum continued to fall under pressure today, further falling below the integer mark of 1900 US dollars / ton support, of which 3 months Lun aluminum trading at 1895-1884 US dollars / ton, now slightly down 0.
13% to 1886 US dollars / ton, the current London aluminum is close to the low point on May 12 this year, the technical support below focus on 1860 US dollars / ton
.
On the macro front, the Asian dollar index oscillated around 97 and is now trading around 97.
16, and the market is currently focused on this week's Fed interest rate decision, with a high probability of interest rate hikes, while the market is concerned about the tone of this resolution and hints
at the pace of interest rate hikes this year and next.
In the aluminum market, at the end of May, the aluminum inventory of Japan's three major ports was 265,900 tons, slightly higher than the average inventory of 268,460 tons during the year, an increase of 15,600 tons or 6.
2% month-on-month, and a year-on-year decrease of 71,300 tons or 21.
1%.
In terms of the market, on June 13, Shanghai spot trading 13540-13550 yuan / ton, the monthly discount 60-40 yuan / ton, Wuxi spot transaction concentrated 13540-13550 yuan / ton, Hangzhou mainstream transaction 13550 yuan / ton, under the narrow operation of the plate, the shippers increased their shipments, the number of market circulation warehouse receipts increased during the same period, the warehouse receipt price was discounted to the month around 20 yuan / ton, the source of goods was more abundant, and the downstream feedback received goods was still mainly on demand
.
The transaction volume of low-iron aluminum ingots was 13,720 yuan / ton, which was around 150 yuan / ton relative to the spot price
.
The overall market situation seems to show that the pressure of shipment is greater, and the receiver is still in a wait-and-see mood
.
The Shanghai aluminum 1708 contract fell back to 13,705 yuan / ton during the day, indicating that there is still heavy selling pressure
above.
At the same time, given that the market focused on the Fed's interest rate hike this week, and the expectation of interest rate hike is strong, the aluminum price rebound is weak
.
It is recommended that the Shanghai aluminum 1708 contract can be backed by 13850 yuan below the sky, the entry reference is around 13750 yuan, and the target is 13650 yuan / ton
.
