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Trade Service
Yesterday, the main contract of Shanghai aluminum opened at 11795 yuan / ton, after the opening of the short concentrated entry, the price fell sharply by more than 180 yuan / ton, and then the daytime slight shock finishing closed at 11655 yuan / ton
.
The night session opened at 11640 yuan / ton, and then some bears concentrated on profit to close their positions, the price rose by about 100 yuan / ton, and then the rise was quickly erased, and then the shock was sorted out, the center of gravity went up, and finally closed at 11710 yuan / ton
.
On the macro front, Eurozone GDP in the first quarter was 0.
6% month-on-month, 0.
5% expected, and 0.
5% preliminary value; GDP was 1.
7% year-on-year, 1.
5% expected, and 1.
5%
preliminary value.
Domestically, China's foreign exchange reserves fell to their lowest
level since December 2011 in May.
China's foreign exchange reserves in May were $3,191.
74 billion, compared with an expected $3,200 billion and a previous value of $3,219.
7 billion
.
The depreciation pressure of the renminbi is greater
.
In terms of the market, the shipment of holders is stable, the aluminum rebounds after the sharp decline, the willingness of middlemen to replenish at low prices is positive, the spot price has fallen sharply compared with yesterday, and downstream enterprises have prepared goods for the Dragon Boat Festival small and long holiday, and the willingness to receive goods has rebounded sharply, and the overall transaction has picked up
significantly compared with the previous day.
In the late afternoon, aluminum fluctuated at a low level of 12140-12160 yuan / ton in the month, and the transaction in East China was concentrated at 12160-12170 yuan / ton, and the aluminum fell back to the low level of shock, and the holders slightly lowered the price, and the middlemen were optimistic about tomorrow's spot trading, and the willingness to replenish goods at low prices was positive, and the transaction rebounded
slightly compared with the afternoon of the past.
In terms of industry, Indian aluminum manufacturers continue to propose relevant policies from the government
.
Representatives of Indian aluminum companies have asked the government to set a minimum import price to avoid a large influx of cheap aluminum and hit the Indian market
.
It is understood that China's export volume of Indian aluminum products is small
.
The recent economic situation is mixed, the market lacks guidance, aluminum prices continue to be weak, today Shanghai aluminum fell sharply, the Dragon Boat Festival is approaching, the market raw material stock demand still exists, aluminum prices are not expected to fall risk, short orders can be temporarily held
.
