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Overnight Lun aluminum opened at 2127.
5 US dollars / ton, the Asian market morning narrow range fluctuated at 2125 ~ 2130 US dollars / ton, the afternoon by the domestic Shanghai aluminum boost, Lun aluminum upward touch 2152 US dollars / ton, but the upper 5-day moving average below the 60-day line to form a strong resistance, into the European trading session, due to the LME aluminum inventory continued to increase, Lun aluminum under pressure to open the downward mode, the low once touched 2117 US dollars / ton, the end of the session short cover closed at 2133 US dollars / ton, China's export orders continued to increase, Directly reflected in the increase in LME aluminum inventory, and the 5-day moving average below the 60-day line to form a strong resistance on the graph, it is expected that today's Lun aluminum wide range fluctuated at 2120~2155 US dollars / ton
.
In terms of the market, on the day, the spot price of Lun aluminum was 2142 US dollars / ton, which was 2.
25 US dollars / ton discount from the March contract; The actual ratio of Shanghai aluminum spot to London aluminum spot was 6.
48 (import ratio was 7.
84), and the import loss was 2909 yuan / ton; The actual ratio of the Shanghai aluminum 3 contract to the London aluminum March contract was 6.
81 (the import ratio was 7.
84), and the import loss was 2195 yuan / ton
.
On the same day, the market was supported by the production cost of electrolytic aluminum and Trump will announce the details of the infrastructure plan, Shanghai aluminum stopped falling and rebounded, but only 2 days before the Spring Festival, demand has stagnated in the short term, and aluminum ingot inventory will continue to increase, making the original high inventory pressure aggravated
.
It is expected that the aluminum price will fluctuate around 14200 yuan, so it is recommended that Shanghai aluminum stop loss exit the market, and the new order is temporarily wait-and-see
.
