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Today's Shanghai aluminum rebound was blocked from falling, there was a sharp decline in the morning, and the afternoon shock rose, recovering part of the decline, as of the closing of the main 2201 contract at 19600 yuan / ton, down 110, or 0.
56%
from the previous trading day.
In terms of news, the spread of the Omicron variant has accelerated, many European countries have increased protest measures, and market concerns have revived; On the macro front, the US dollar index continued to operate at a high level in the last trading day, and the market is still optimistic about the Fed's Taper and interest rate hike expectations, forming support for the US dollar, and this week is about to enter the European and American holidays, and trading is expected to be relatively light
.
In the past two weeks, the pace of aluminum ingot destocking has accelerated, and aluminum rods have also changed from accumulation to destorage, and the increase in the operating rate of downstream enterprises confirms that most enterprises are currently in the emergency rush stage
at the end of the year.
Most of the funds at the end of the year are cautious, and the possibility of a sharp market in the near future is low
.
During the year, there are few new production plans in China, the margin of production reduction is also limited, the news at both ends of supply and demand is relatively transparent, and there is no bright spot for the time being, and the destocking accelerates the bottom
of aluminum prices.
Under the long-short game, short-term Shanghai aluminum fluctuates
around the range of 1.
94-19,800.
