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Shanghai aluminum fluctuated slightly overnight, showing signs of
stabilization.
Aluminum ingot spot premium fell back to around 80, and the social inventory of aluminum ingots rose by 15,000 tons at the beginning of the week, and the inventory inflection point was close to confirmation
as consumption weakened seasonally.
However, it is necessary to pay attention to the warehouse receipt in the previous period is only 65,000 tons, and the Shanghai aluminum Back structure is still deep, it is not advisable to be overly bearish and wait and see
for the time being.
The price of Chinalco East China AOO aluminum ingots was 15770 yuan / ton, down 100 yuan
.
Recently, LME aluminum inventories have continued to decline, and domestic inventories have accumulated slightly, but the overall inventory is still low; With the advent of the off-season, downstream consumption may weaken, and the impact of environmental protection production restrictions and power restrictions will gradually expand, and it is expected that spot aluminum prices will not rise or fall much
today.
At the end of the year and the beginning of the year, overseas finance in the vaccine expectations and epidemic disturbance violently shocked, due to the stock market and commodity high profit taking pressure intensified, short-term too fast and too sharp rise triggered profit and technical correction, while the financial market risk appetite is too optimistic may face the year-end risk switch impact, the current copper and aluminum led by the "pro-cyclical" varieties short-term high pullback
.
Recently, the main force of Shanghai aluminum under the pressure of macro risk aversion heating up, bulls chose to take profits to leave the market, the pullback range is large, has tested the 30-day moving average, the support of short-term social inventory still exists, Shanghai aluminum AL2102 below the space is limited, but the upward drive is not obvious
.
