On June 6th, the Shanghai aluminum futures contract opened sharply lower, and the volatility was lower. The prices of the aluminum futures contracts fell sharply. Analysts in the industry believe there is still a possibility of further bottoming in the short-term.
On Tuesday, June 6, the Shanghai Futures Exchange (SHFE) aluminum main 608 contract opened at 20,980 yuan and closed at 20,820 yuan, down 380 yuan; spot 606 contract closed at 20,670 yuan, down 310 yuan.
Shanghai Jinpeng analyst Cao Zhiyi believes that from the external metal trend, there is a possibility of further bottoming in the short term.
Overnight, LME base metals fell, LME aluminum fell more than copper, compared to a closing price of 2587.5 US dollars / ton, compared with the previous trading day fell 57.5 US dollars / ton, fluctuations in the range of 2683 to 2580 US dollars / ton, aluminum inventory increased by 1650 Tons to 77,1050 tons. On the 6th, Shanghai Aluminum opened lower and oscillated, closing late in the day.
Shanghai Aluminium fell due to the external influences of external aluminum and Shanghai copper. From the external metal trend, there is a possibility that the short-term trend will be further. On the daily indicators, Shanghai Aluminum also has the requirement of ending the rebound and falling again. Shanghai copper is the main short-term trader.