May 31 afternoon review of copper and aluminum
Quotes review: aluminum: Two spot situation: Copper: The average price of the Yangtze River spot this morning was 73,450 yuan per ton, which was a drop of 1950 yuan per ton from the previous day. The price of copper in the flat water was 180 yuan per ton and the premium of copper in the premium was 120 yuan per ton. Three message surface: According to newer statistics released by the World Bureau of Metal Statistics, in 2006, the global copper market had a surplus of 4,000 tons in the previous quarter. In the first four months of this year, the import volume of copper and related products in China showed a downward trend. Among them, copper ore and copper concentrate decreased by 5.3%. According to a telegram from abroad, Poland has applied to the European Union to abolish the 6% import duty imposed on Russia’s aluminum. Aluminum Corporation of China said today that it will postpone the submission of the final tender for Aurukun bauxite. The Ukrainian National Statistical Commission said yesterday that Ukraine’s export volume of alumina for the first four months increased by 7.2% year-on-year to 466,120 tons. Alcoa Inc. has announced that it will expand its management team in China due to the need for business development in China. From the fundamentals, the basic situation of the copper market has not undergone fundamental changes, and the threat of inventory and strike will remain the focus of the market. There is no major change in the fundamentals of aluminum, which is affected by cost and inventory. Short-term aluminium has limited space for downwards and upwards. Copper: LME composite copper impact 8500 dollar wire failed, down finishing, short-term copper around 8000 US dollars as the axis of high volatility. According to the previous operation proposal, LME copper could not be taken out on the 8500 US dollar line, and the aluminum 2800 US dollar line started to withdraw more than one single to withdraw. There is no short-term position entry and exit, the activists do not break the 7200 dollar line with the LME copper, aluminum does not break the 2,600 dollar line, and the low position is more than a small amount of caution. Fire-proof Aluminum Composite Panel Aluminum Composite Panel Price,Aluminium Plastic Composite Panel,Fireproof Aluminum Composite Panel,Fire Retardant Aluminium Composite Panel SHAOXING YOTO IMPORT&EXPORT CO., LTD , https://www.sxyoto.com
copper:
Overnight LME Composite Copper lacked follow-through buying on the 8500 USD line, some long liquidation and profit-taking traded into the market, closing at 8020 US dollars, down 205 US dollars from the previous day, trading volume was light. Inventory increased by 400 tons to 106,025 tons.
Shanghai copper 0608 main contract this morning opened 1910 points 74600 opening, closing at 74,160, 2350 points lower than the previous day, closing 18986 hand, Masukura 496 hands.
Overnight LME composite aluminum closed at 2710 US dollars, down 78 US dollars from the previous day, inventories increased by 100 tons to 774,675 tons.
This morning, the main contract of Shanghai Aluminum 0608 opened 480 points and opened at 21450, closing at 2143, down 500 points from the previous day, closing 38,946 hands, and Masukura 1182 hands.
Aluminum: The average price of the Yangtze River spot was 21,160 yuan/ton this morning, down 560 yuan/ton from the previous day.
Canadian nickel miners changed their strike plan yesterday.
Four technical aspects:
Aluminium: LME aluminum cannot be stabilized on the 2800 dollar line, SRI is around 42 and short-term tests of 60-day moving average support.
Five operation suggestions: