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Overnight, the external aluminum market fluctuated higher, rising for the sixth consecutive day, of which 3-month Lun aluminum rose 0.
95% to 1757 US dollars / ton, the daily closing price was close to the high point since November 25 last year, but after the short-term aluminum price continued to rise, it faced the demand
for technical pullback.
Industry information: In early December, due to environmental protection problems, Bosai Pioneer Alumina Company, which reduced its operating capacity by 350,000 tons, has begun to resume production around New Year's Day, although the current operating capacity has not reached the original operating capacity of 700,000 tons before the shutdown, but it is expected to return to the original operating capacity
in the short term.
Market: On January 11, Shanghai aluminum trading concentrated 12770-12780 yuan / ton, the discount for the month was 70-60 yuan / ton, Wuxi transaction concentration was 12760-12770 yuan / ton, Hangzhou transaction concentration was 12750-12770 yuan / ton
.
Holders are actively shipping at high prices, spot discounts for the current month are expanding, the price difference in the following month is expanded to about 70 yuan / ton, there is a profit margin for buying cash during the selling period, middlemen are more willing to receive goods, downstream enterprises are mainly purchasing on demand, a small number of high wait-and-see, the overall transaction is good
.
In terms of inventory: as of January 11, LME aluminum inventory reported 2243775 tons, a sharp increase of 11,050 tons per day; In the same period, the aluminum inventory in the previous period was reported at 104537 tons, a weekly increase of 3,815 tons, the highest point since September 14 last year, which is a five-week increase, but far below the average inventory value of 200,000 tons
during the year.
Overnight, the main contract of Shanghai aluminum fell back to 12,985 yuan, slightly weaker than Lun Aluminum
.
Aluminum prices rose this week, mainly boosted by the climb of ferrous metals and the decline in the US dollar index
.
In terms of operation, it is recommended that the Shanghai aluminum 1703 contract can be backed above 12,800 yuan to bargain long, and the entry reference is around 12,900 yuan, with a target of 13,100 yuan
.
