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On Tuesday, LME aluminum fluctuated upward, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $1762.
5 / ton, up 0.
23%
on a daily basis.
The main 1908 contract of Shanghai aluminum stopped falling and volatile, with the highest 13825 yuan / ton and the lowest 13765 yuan / ton during the day, and the closing price of 13810 yuan / ton at the end of the day, unchanged from the closing price of the previous trading day
.
In terms of markets, (1) the Asian dollar index weakened under pressure and is now trading at 97.
404, down -0.
16%.
(2) Data released by the National Bureau of Statistics on Monday showed that China's alumina production in May increased by 0.
1% year-on-year to 6.
243 million tons; China's aluminum production was 4.
908 million tons, an increase of 4.
8% year-on-year, and the cumulative output from January to May was 21.
98 million tons, an increase of 6.
5%
year-on-year.
Spot analysis, on June 18, spot A00 aluminum quotation 13830-13870 yuan / ton, the average price fell 80 yuan / ton
from the previous trading day.
A large household still did not have an online purchase notice during the day, and at the same time, after the change of month, from the plate point of view, the aluminum price upside down and the state of premium water has not changed, the carrier shipment is very active, some middlemen low price trial replenishment, although the two sides inquire positively, but the actual transaction is general
.
Due to the decline in aluminum prices for several days, superimposed orders gradually weakened, downstream performance on demand procurement, attitude wait-and-see, and the amount of goods received was not much
.
Warehouse receipt inventory, the total amount of Shanghai aluminum warehouse receipts on Monday was 196392 tons, a daily decrease of 4932 tons; On June 17, LME aluminum stocks were 1055075 tons, a daily decrease of 9,550 tons, a decline of 27 consecutive days
.
The main position, the top 20 long positions of the main 1908 contract of Shanghai aluminum were 94485 lots, an increase of 2129 lots, the short positions were 89434 lots, a daily increase of 2381 lots, and the net long position was 5051 lots, an increase of 731 hands per day, and the long and short trading was obvious
.
During the day, the main 1908 contract of Shanghai aluminum stopped falling and fluctuated and received support
in the lower Bollinger band.
During the period, it was partially supported by the weakening of the US dollar index, while the tightening of domestic alumina supply made the price continue to rise, and the cost increase led to the squeeze of industry profits, and it is expected that the space below the aluminum price will be limited
.
In terms of spot, the market supply is very sufficient, but the willingness to purchase is not obvious, because the downward trend of aluminum superimposed on the moon change background of the price is not positive
.
Technically, the main contract of Shanghai aluminum effectively runs below the moving average group, the Williams indicator is still oscillating in the bearish area, and the 13760 line has some support, and it is expected to be short-term or fall into a low consolidation
.