On June 1st, the Shanghai aluminum futures contract opened sharply lower, and the shocked fall once touched the daily limit, which led to a sharp decline across the board. Industry analysts believe that in the absence of a sharp decline in the base metal of the external market, the short-term oscillatory trend will appear in the short-term.
On Thursday, June 1, the Shanghai Futures Exchange (SHFE) aluminum main 608 contract opened at 21010 yuan, to close at 20780 yuan, down 580 yuan; spot 606 contract closed at 20590 yuan, down 560 yuan.
Shanghai Jinpeng analyst Cao Zhiyi believes that in the absence of a sharp decline in the base metal of the external disk, the short-term oscillatory trend of the interval will appear.
As the rebound of the US dollar hurt the popularity of various commodity markets, LME's basic metals fell, and LME's March aluminum prices showed a trend of a sharp decline. It closed at $2,670/ton, down by $30/ton, and traded at $2,780 to $2,643. , Aluminum inventory fell by 2400 tons to 727,275 tons.
In early trading, Shanghai Aluminum suffered a low-low oscillation after the external disk fell. It was hit by Shanghai copper's low limit and hit a daily limit. In the afternoon, it rebounded from the low point and traded at 20500 to 21210 yuan.
From a technical point of view, the Shanghai aluminum market on the first day of the probe on the 120th day was significantly lighten up, while the short-term decline is relatively large, as long as the external base metal does not plummet, the short-term oscillation will be in the low range.
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