December 30 aluminum market morning review

Industry information: On December 29, SMM statistics domestic electrolytic aluminum spot inventory, Shanghai 90,000 tons, Wuxi 100,000 tons, South China Sea 82,000 tons, Hangzhou 29,000 tons, Gongyi 23,000 tons, the total inventory of the five places 324,000 tons, down 07,000 tons
from last Thursday.

In terms of market: on December 29, Shanghai aluminum trading concentrated 12730-12750 yuan / ton, the monthly premium was 150-160 yuan / ton, Wuxi transaction concentration was 12730-12740 yuan / ton, Hangzhou transaction concentration was 12710-12730 yuan / ton
.
Holders maintain stable shipments, sufficient circulation sources, year-end settlement, middlemen are cautious in receiving goods, downstream enterprises end the purchase demand for monthly tickets, the willingness to receive goods declines, near the end of the year, the overall transaction shows a price trend after the New Year
.

In terms of inventory: as of December 29, LME aluminum inventory reported 2183675 tons, an increase of 6,875 tons per day; In the same period, the aluminum inventory in the previous period was reported 100257 tons, an increase of 4,061 tons per week, an increase for three consecutive weeks, far lower than the average inventory value of 200,000 tons
during the year.

Overnight, the main oscillation of Shanghai aluminum was sorted out to 12665 yuan / ton, the performance was far resistant to the decline of Lun aluminum, because after the short-term aluminum price continued to fall, the lower face of technical support M200, that is, 12500 yuan / ton
.
Short-term operation needs to be cautious, it is recommended that the Shanghai aluminum 1702 contract can be backed above 12500 yuan to bargain long, the entry reference is around 12600 yuan, the target is 12850 yuan
.