Brief review of the aluminum market on December 20

On Friday, the main 2002 contract of Shanghai aluminum opened at 14210 yuan / ton in the morning, after the opening of the bulls high position reduction, the price fell, pierced the 5-day moving average and the 10-day moving average downward, and then a small number of bears left the market, the price made up slightly, and the morning closing price was 14190 yuan / ton; After the afternoon open, the bears' confidence was better than in the morning, and they took the initiative to increase their positions, and the market continued to weaken, and finally closed at 14175 yuan / ton
.
Due to low inventory and tight spot, the price decline space is limited, and it is expected that the main 2002 contract of Shanghai aluminum will run between
14100~14200 yuan / ton at night.

The price of Chinalco East China AOO aluminum ingots was 14490 yuan / ton, up 160 yuan
.
Aluminum ingot social inventory dematerialization continues to be higher than the same period of previous years, has fallen below 600,000 tons, the current downstream aluminum processing enterprise order performance overall maintained a healthy state, short-term fundamentals support, intraday spot aluminum prices are expected to rise
.

The rainy and snowy weather in the north has led to a decrease in market arrivals and a sharp rise in aluminum prices
.
However, after a rapid rise in recent days, the rise of Shanghai aluminum has slowed down
significantly.
At the close, the main 2002 contract closed up 0.
18% at 14175, up 20% from the previous trade; Domestic aluminum inventories continue to go to storage, supporting the strengthening of aluminum prices, but the cost continues to decline, inhibiting the trend of aluminum prices, short-term fundamentals lack of substantial positive boost, it is expected that the rise in aluminum prices may be difficult to continue, beware of giving back the increase, the operation is temporarily wait-and-see; Spot aluminum is expected to fall
next Monday.