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Non-ferrous metals fell sharply on Friday night, and Shanghai aluminum continued to fall
.
Last week, the social inventory of aluminum ingots accumulated 50,000 tons to 660,000 tons, and the seasonal weakening of consumption was obvious, and the amount of accumulation was paid attention to on Monday, if the accumulation accelerated, it may trigger bears to continue to make efforts
.
The narrowing of the far month spread of Shanghai aluminum is also bad
for bulls.
Pay attention to the support of 10,000 and hold short orders
.
On the macro front, the Biden administration won the election and will launch a larger stimulus package, but the 10-year US Treasury yield has increased sharply, which has provided some support
to the US dollar.
In terms of fundamentals, the domestic epidemic has rebounded, and logistics restrictions have been strengthened in some areas, or downstream construction may be affected; In winter, consumption slowed down in the north, some rod factories stopped production, and the amount of ingots increased; The output of electrolytic aluminum continued to expand, and the consumption slowed down significantly; On the 7th, SMM aluminum ingot inventory reported 664,000 tons, an increase of 5.
1 compared with last Thursday, and the recent market arrival increased significantly; the recent spot transaction was general, and the transaction premium was weak
.
