January 7 aluminum market brief comment

On Monday, the main contract of Shanghai aluminum 2002 opened at 14140 yuan / ton in the morning, only touched 14145 yuan / ton at the beginning of the session, the bulls took the initiative to reduce their positions and leave the market, Shanghai aluminum continued to fall before the afternoon, fell below the 10/5 daily moving average one after another, and the low once touched the 20-day moving average of 14060 yuan / ton
.
After the bears took advantage of the dip, Shanghai aluminum repaired some intraday declines, closing at 14105 yuan / ton
at the end of the session.
The flat spot inventory of aluminum ingots during the day did not exceed the expected accumulation, mainly due to the heavy snow in Inner Mongolia affecting the shipment of automobile aluminum ingots, which supported the price of Shanghai aluminum
.
Considering the increase in the variables of the external macro situation, it is recommended that short-term speculative funds can leave the market and wait and see
.

Nanchu Foshan aluminum ingot quotation 14610-14670 yuan, the average price of 14640 yuan, down 60, the premium of the month 225 yuan, the source circulation is loose, the holders are actively shipped, the downstream procurement is few, traders squeeze the premium, and the market transaction is weak
.
The mainstream transaction price is concentrated between 14590-14640 yuan, which is -50~0 yuan
higher than the average price of Foshan in the South Reserve.

Nanchu Wuxi aluminum ingots quoted 14530-14570 yuan, the average price was 14550 yuan, flat, and the premium for the month was 135
.
Yangtze River: 14510-14550, 14530 down 20
.
The overall market circulation is tight, the activity of traders receiving goods is average, the overall supply and demand are weak, the premium continues to narrow, and the trading performance of the two sides is flat
.
The spot transaction price is concentrated in 14510-14520 yuan, which is -40~-30 yuan higher than the average price of Nanchu Wuxi
.