Technology corrects short-term aluminum prices or continues low oscillations

According to the bulk non-ferrous net reprinted: outside the disk trend: overnight Lun aluminum oscillations fell, ignoring the US dollar index callback, which 3 months Lun aluminum fell 0.77% to 1744 US dollars, the current Al Lv aluminum has been around 1750 US dollars near the oscillation order for nearly a week . Prior to this, Lon Aluminum had fallen for four consecutive weeks, with a cumulative decline of nearly 9%. In the short-term, it was under the support of the US$1,730.

Industry News: The aluminum producer's quotation for Japanese buyers in the third quarter was US$130/tonne or US$160/tonne, and the quarterly rate fell by 66% and 58%.

In terms of spot, on June 2 Shanghai Current Aluminum's mainstream transaction was 12950-12960 yuan/ton, discounted premium of 110 yuan/ton was 90 yuan/ton, and the downstream demand-based purchasing rhythm remained unchanged. The seller still has a lot of reluctance to sell, but it is difficult to continue to narrow the market because of limited demand and the overall market conditions have been slowed down. On the external market, the LME aluminum spot for January-March was $39.5 higher than the futures contract, which was a slight increase of $1.5 from the previous day.

Inventory: As of June 2nd, LME aluminum inventories decreased by 6,775 tons to 3,717,175 tons compared with yesterday, continuing the three-week downtrend. The inventory level hit a new low since April 27, 2009 (3,701,325 tons); On May 29, the Shanghai Aluminum Stock Exchange of the Shanghai Stock Exchange reported 284,924 tons, which was a 4330-ton decrease in the previous week, which was a two-week decrease. After the Shanghai aluminum stock had increased for 12 weeks in 13 weeks, the inventory is still on September 19, 2014. Weekly high (299,572 tons).

Summary of views: Overnight Shanghai aluminum 1508 contract oscillation fell to 13,160 yuan, the performance is weaker than other basic metals, is still mainly weighed on by its greater supply pressure, but due to the US dollar index fluctuates and declines, and after the continuous decline in aluminum and aluminum after facing technical correction needs, The short-term aluminum price may continue to oscillate at low levels. It is recommended that the AL1508 sells high in the range of 13120-13220, with a stop loss of 100 yuan/ton.