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Market review, base metals were mixed on Thursday, of which Shanghai aluminum rebounded, showing that aluminum prices rebounded at a low level, and long funds entered positively
.
It traded at 14150-14270 yuan / ton during the day, and closed at 14255 yuan / ton at the end of the day, up 0.
18%
on the day.
In the external market, as of 15:24 Beijing time, the three-month Lun aluminum was reported at 1998.
5 US dollars / ton, down 0.
27% on the day, and the lower support level focused on 1970 US dollars / ton
.
In terms of the market, the spot price of Shanghai aluminum was concentrated at 14130-14140 yuan / ton, the discount for the month was 60-40 yuan / ton, the Wuxi transaction concentration was 14130-14140 yuan / ton, and the Hangzhou transaction concentration was 14160-14180 yuan / ton
.
Intraday cargo holders generally ship, middlemen actively receive goods when there are more discounts in the early stage, and downstream basic on-demand procurement, and there are no bright spots
.
In terms of news, the Asian dollar index was weak and volatile, now trading around 96.
305, overnight European currencies generally weakened, boosted by European fleeing safe-haven funds, overnight dollar index higher, intraday a slight correction
.
In terms of industry, Norwegian aluminum company Hydro said in its third-quarter results report that there will be a shortage in the global aluminum market in 2018 due to lower-than-expected supply growth, and the shortage is higher than previously expected
.
The company said it expects aluminum production outside China to grow by 1%-2% in 2018, adding that although China's primary aluminum production increased by 13% in 2017, it expects aluminum production growth to fall to about
0%-1% in 2018 due to measures such as eliminating backward production capacity, limiting production during the heating season and rising raw material prices.
Shanghai aluminum fell and rebounded
during the day.
Compared with Lunaluminum, the recent performance of Shanghai aluminum is still relatively strong
.
In the spot market, the holders generally ship goods, and the middlemen actively receive goods when there are more discounts in the early stage, and the downstream is basically purchased on demand, and there are no bright spots
.
On the technical side, the MACD indicator green column has continued to shrink recently, and a golden cross has formed at a low level, showing a short-term strengthening trend
.
Operationally, it is recommended that the Shanghai-aluminum 1812 contract can choose the opportunity to go long below 14200 yuan / ton, and the stop loss refers to 14100 yuan / ton
.
