On June 8, the Shanghai aluminum futures contract opened slightly higher, finished lower and shook, and each contract had a rise or drop. The industry analysts believe that from the perspective of external metal prices, there may still be further declines in the short-term.
On Thursday, June 8, the Shanghai Futures Exchange (SHFE) aluminum main 608 contract opened at 21030 yuan, to close at 20750 yuan, up 100 yuan; spot 606 contract closed at 20580 yuan, up 40 yuan.
Shanghai Jinpeng analyst Cao Zhiyi believes that the price reduction of imported alumina will have a negative effect on aluminum prices.
With short covering, on the 7th, the external base metal rebounded sharply. LME March aluminum closed at US$2610/tonne, up by US$51/tonne on the 6th, fluctuating in the range of US$2625 to US$25/tonne, and aluminum inventories falling by 1600 tons. To 76.735 million tons.
Shanghai Aluminum suffered a sharp rebound from the external rebound of aluminum, but it was lower after the LME aluminum electronic trading was lower and Shanghai Copper opened lower. The intraday trading trend was weaker, showing heavy selling above 21,000 yuan; fundamentals, The price reduction of imported alumina has also formed a bearish price for domestic aluminum prices. It is estimated that the possibility of a low oscillation of Shanghai aluminum is relatively high.