Brief review of the aluminum market on December 25

On Tuesday, the main 2002 contract of Shanghai aluminum opened at 14190 yuan / ton
in the morning.
The Shanghai aluminum shock downward pierced the 5-day moving average below and touched 14175 yuan / ton, and then the long and short mutual positions were reduced, and the Shanghai aluminum maintained a narrow range of oscillations, running above
the 5-day moving average.
After the Shanghai aluminum touched the 5-day moving average again in the second trading session before the afternoon, the bulls began to pour in again, the center of gravity of the Shanghai aluminum shock was quickly raised, and the bulls continued to try to break through the high upward to touch 14255 yuan / ton, closing at 14235 yuan / ton
.

Nanchu Foshan aluminum ingot quotation 14480-14540 yuan, the average price of 14510 yuan, up 50, the premium for the month 185 yuan, the supply tightening intensified, traders received the mainstream, supply exceeded demand and rose up, the market trading is priceless
.
The mainstream transaction price is concentrated between 14520-14560 yuan, which is 10~50 yuan
higher than the average price of Foshan in the South Reserve.

Nanchu Wuxi aluminum ingot quotation 14470-14510 yuan, the average price of 14490 yuan, up 60, to the month premium 165
.
Yangtze River: 14450-14490, 14470 up 30
.
In the morning, the cargo holders shipped actively, the market trading activity was acceptable, the price rose in the later period, the supply of goods tightened, the market transferred goods, and the transaction was not smooth
.
The spot transaction price is concentrated in 14460-14510 yuan, which is -30~20 yuan higher than the average price of Nanchu Wuxi
.

From the technical point of view, although the current moving average is arranged long, under the pressure of increased arrivals, the probability of inventory decline continues to narrow, the upper pressure increases, and the lower 5-day moving average continues to move up to compress the operating space
of Shanghai and aluminum.
It is expected that the center of gravity of Shanghai-aluminum operation will move slightly up with the 5-day moving average, and the overall operating range will continue to narrow
.
At the same time, it is necessary to be vigilant about the possibility of domestic breakthrough upwards after the external market is closed for Christmas
.