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Today's Shanghai aluminum 1608 contract further extended its gains, closing at 12205 yuan / ton at the end of the day, up 0.
87%
from yesterday's closing price.
At present, Shanghai aluminum effectively breaks through the suppression of M60 above, showing that its internal upward momentum is strong
.
In terms of external trading, today's Asian aluminum oscillation stabilized, the performance is relatively stagnatant, of which 3 months Lun aluminum rose 0.
06% to 1634 US dollars / ton, the current Shanghai aluminum effectively run in the past two weeks of oscillation finishing platform above, showing that the short-term upward breakthrough is still effective, Lun aluminum above the rebound resistance focus on 1650 US dollars / ton
.
On the macro front: The Asian dollar index extended overnight losses and slipped further to around 93.
5 as short-term Brexit concerns slowed and the referendum results will be released
on Friday.
Meanwhile, today the market is focused on the impact
of the Fed chairman's congressional testimony on the stock market.
Market: On June 21, Shanghai aluminum trading concentrated 12520-12540 yuan / ton, and the premium for the month was 150-160 yuan / ton
.
Social inventory reduced to less than 400,000 tons, coupled with the reasons for replacing business tax with VAT and semi-annual settlement, the supply of aluminum ingots with monthly tickets is tight, the holders are selling at a high price, the circulation supply is tight, the spot premium is 90 yuan / ton higher than yesterday, the willingness of middlemen to replenish goods is more cautious than yesterday, the willingness of downstream enterprises to receive goods is cooling, and the overall transaction is suppressed by high prices
.
In terms of industry, China's bauxite imports in May were 3.
848 million tons, up 1.
3% year-on-year, but bauxite imports from Malaysia fell 95.
03% year-on-year to 77,393 tons
.
Overall, the Shanghai aluminum 1608 contract oscillated to 12205 yuan / ton today, due to the further decline of the US dollar index and the tightening of short-term domestic aluminum supply
.
At present, Shanghai aluminum has risen above the moving average group, and the technical form is strong
.
It is recommended that the Shanghai aluminum 1608 contract is backed by 12100 yuan to bargain hunt, and the target is 12350 yuan / ton
.
