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Overnight, the external aluminum market rushed back down, of which 3-month Lun aluminum slightly rose 0.
62% to 1698 US dollars / ton, down 0.
82% from the intraday high of 1712 US dollars / ton, but its performance obviously resisted the decline in Lun copper, although the current Lun aluminum is running below the moving average group, but it is running at a low level for the fifth consecutive day, indicating that the willingness to fall has weakened
.
Industry news: Norwegian Hydro expects aluminum demand to exceed output
in 2018.
In terms of market: on January 5, the transaction concentration in Shanghai was 12660-12670 yuan / ton, the premium for the month was 30-40 yuan / ton, the transaction concentration in Wuxi was 12640-12660 yuan / ton, and the transaction concentration in Hangzhou was 12680-12690 yuan / ton
.
Holders have a positive attitude towards shipment, the circulation of goods increases, in terms of brand, hope, Xinfa, Shenhuo and its sub-inflow into the market supply is more, middlemen receive and ship more operations within the day, dare not easily retain inventory, downstream enterprises are less willing to receive goods, and the overall transaction is weak
.
In terms of inventory: as of January 5, LME aluminum inventory reported 2222450 tons, a sharp increase of 25,975 tons per day; In the same period, the aluminum inventory in the previous period reported 100722 tons, a weekly increase of 465 tons, a four-week increase, but far below the average inventory value of 200,000 tons
during the year.
Overnight, the main contract of Shanghai aluminum oscillated to 12615 yuan, the performance was slightly weaker than Lun aluminum, because after the short-term aluminum price continued to fall, the technical support of M200, that is, 12500 yuan / ton, below is still effective, and the short-term dollar index under pressure or led to the rebound
of aluminum prices.
In terms of operation, it is recommended that the Shanghai aluminum 1702 contract can be backed above 12,500 yuan to bargain more, and the entry reference is around 12,600 yuan, with a target of 12,800 yuan
.