Fundamental support gradually weakened Shanghai aluminum short-term or maintained weak shocks

In terms of external trading, Lun aluminum opened at 1719 US dollars / ton in the morning, dragged down by domestic Shanghai aluminum at the beginning of the session, Lun aluminum tested 1711 US dollars / ton, and then the low level of anti-pumping high 1725 US dollars / ton, Asian session Lun aluminum basically around the 5-day moving average of 1720 US dollars / ton shock sorting, into the European trading session Lun aluminum continued to around the daily average trend is more repeated, as of 17:17 Lun aluminum 1717 US dollars / ton, the base metal market Lun aluminum is green, it is expected that Lun aluminum test 40-day line support, pay attention to the domestic Shanghai aluminum trend on the guidance of Lun aluminum
。

In terms of the market, aluminum futures fluctuated widely before noon of the month, and the center of gravity was downward
.
Shanghai transaction concentration is 13900-13920 yuan / ton, the monthly discount is 20 yuan / ton to premium 20 yuan / ton, Wuxi transaction concentration is 13870-13890 yuan / ton, Hangzhou transaction concentration is 13930-13950 yuan / ton
.
The process of clearing inventory at the end of the smelter continued, the social inventory of aluminum ingots increased by more than 10,000 tons, the holders actively shipped for cash, the downward low volatility of aluminum in the future, the market bearish sentiment was strong, the middlemen chose to wait and see for the time being, and the downstream was purchased
according to just demand.
Hangzhou's inventory has increased a lot, but the circulation of goods has been controlled, and the supply and demand sides have shown a tug-of-war
.
Spot stocks may be difficult to avoid the trend of discounting
.
In the late afternoon, the volume of aluminum fell in the month, Shanghai holders sold at a high price, the price was 13890-13900 yuan / ton, Wuxi holders actively adjusted the price, the transaction price was 13800-13850 yuan / ton, middlemen looking for low-priced sources, the transaction was small and concentrated at a low level
.

On the industry front, Alcoa said on Monday it was assessing the impact of last week's power outage at its smelter in Portland, Australia, which forced the company to shut down production of two electrolyzers that produce about 300,000 tons
of aluminum a year 。 Domestically, the aluminum ingot shipping plan in the application for "point-to-point" fast freight trains in December 2016 of the Urumqi Railway Bureau is expected to be about 75 trains, and the shipment volume is expected to be 202,500 tons, plus sporadic shipments, it is expected that the train transportation volume of Xinjiang aluminum products in December will be between 240,000 and 280,000 tons, and there is still a large bottleneck in the transportation of aluminum by train, and the backlog of aluminum product inventory in Xinjiang will also increase
.

In terms of inventory, data show that on December 5, the total social aluminum inventory in the five places in the country was 297,000 tons, an increase of 9,000 tons from last Thursday, and the inventory further rebounded, and the deterioration of fundamentals continued to put pressure on aluminum prices, and the entire market was bearish
.
On the plate, the average above Shanghai aluminum is under pressure, or continues to fluctuate weakly, and Shanghai aluminum 1702 may test 13,000 important support
downward.