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On Wednesday, the main contract of Shanghai aluminum 1809 fell under pressure, the decline further expanded, closing at 14010 yuan / ton, down 1.
23% on a daily basis, and the daily closing price hit a new low since June 27 last year, and is currently effectively running under the moving average group, and the technical form is obviously bearish
.
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 75 yuan / ton
.
In terms of external disk, Asia Lun aluminum fell under pressure, of which as of 16:13 Beijing time, 3-month LME aluminum reported 2067 US dollars / ton, down 0.
89% per day, at present, Lun aluminum is still effectively running under the main moving average group, showing that the upper selling pressure is heavier, and its technical support below focuses on 2050 US dollars / ton, so far this week has been Lun aluminum fell 0.
93%, the same period London copper fell 2.
01%.
On the macro front, the Asian dollar index oscillated slightly and is now trading around
94.
18.
The United States once again announced tariffs on China's $200 billion worth of imported goods, causing panic in the market, China's Ministry of Commerce responded that the United States announced the tariff list in an accelerated escalation manner, which was completely unacceptable, China expressed a solemn protest against this, and later paid attention to China's response to the US approach
.
In terms of the market, on July 11, Shanghai aluminum trading concentrated 13820-13840 yuan / ton, the discount for the month was 20-10 yuan / ton, Wuxi transaction concentration was 13820-13840 yuan / ton, Hangzhou transaction concentration was 13850-13870 yuan / ton
.
Aluminum fell sharply, the discount narrowed, the shipment efforts of cargo holders increased, middlemen and downstream enterprises wait-and-see sentiment breeded, and the overall transaction was slightly worse
than the previous day.
In terms of industry, recently, the Liaoning Provincial Commission of Industry and Information Technology announced that Henan Yugang Longquan Aluminum replaced 322,500 tons of electrolytic aluminum production capacity to its joint venture Liaoning Yingkou Xintai Aluminum Co.
, Ltd.
, the company completed the replacement of 322,500 tons of production capacity, there is still a capacity gap
of 137,500 tons.
During the day, Shanghai aluminum 1809 fell under pressure to 14010 yuan / ton, suppressed by the escalation of the Sino-US trade war
.
However, the recent significant reduction in Shanghai aluminum inventories is conducive to the rebound of aluminum prices and will partially limit the downside
of aluminum prices.
It is recommended that the Shanghai aluminum 1809 contract can be sold high and low between 13950-14150 yuan / ton, and the stop loss is 100 yuan / ton
each.
