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On Tuesday, the Shanghai aluminum 1705 contract opened at 13900 yuan / ton in the morning, the performance of long and short in the day was more cautious, Shanghai aluminum around the daily moving average narrow range, the trend was relatively stable, closing at 13850 yuan / ton, the center of gravity of the transaction slightly downward
.
The volume decreased to 125948 lots, and the open position increased by 5450 lots to 273954 lots
.
In the short term, Shanghai aluminum is expected to maintain low volatility, and try to test the 40-day support
in the evening.
In terms of the external market, in the morning, Lun aluminum opened at 1881 US dollars / ton, the Asian session continued yesterday's decline, Lun aluminum trend is weaker, aluminum prices slightly downward, into the European trading session Lun aluminum maintained a low level of shock, as of 17:46 Lun aluminum 1869.
5 US dollars / ton, the evening is expected to Lun aluminum first test low, the end of the session or will repair part of the decline, the center of gravity or continue to move
down.
On the macro level, the expressions of the two associations on the property market such as "adhere to residential attributes and long-term mechanisms" are the same as the expressions of "houses are for living, not for speculation" at the Central Economic Work Conference at the end of last year, indicating that the tone of maintaining stability in the property market in 2017 continued
.
Copper and aluminum are expected to reduce downstream consumption in the future
.
The uncertainty of European elections dragged down the weakening of the euro, the strengthening of the dollar, and the natural suppression of non-ferrous metals such as copper and aluminum
.
In terms of the market, aluminum was first suppressed and then rose in the month, with Shanghai trading concentrated 13480-13510 yuan / ton, discount 170-150 yuan / ton for the month, Wuxi transaction concentrated 13470-13500 yuan / ton, Hangzhou transaction concentrated 13500-13520 yuan / ton
.
The spot price fell below 13,500 yuan / ton, the smelter controlled shipments at a low price, the aluminum rose in the later stage of the transaction, the holders adjusted the price actively with the market, the aluminum was first suppressed and then rose, the middlemen were more willing to stock up on the low, and the downstream enterprises were also willing to enter the market at a low level, and the overall transaction price was active
.
In the late afternoon, aluminum fluctuated around the daily moving average that month, and a small amount of 13490-13510 yuan / ton
was traded in the afternoon.
In terms of industry, Fitch's subsidiaries said that domestic net aluminum exports will bottom out in 2017 and gradually recover in 2018; Liualuminum, a subsidiary of Guangzhou Investment Group, plans to produce 120,000 tons of electrolytic aluminum this year and reach the break-even target, and its output in 2016 is more than 70,000 tons, and the output is planned to increase by 50,000 tons
.
The Shanghai aluminum 1705 contract was dragged down by the black series during the day, and continued to weaken.
Although the infrastructure targets proposed by the two sessions this year are not as expected by the market, and aluminum inventories have remained high recently, there is still strong support
from the industrial cost line below the aluminum price.
Operationally, it is recommended to buy low, long reference 13800 yuan / ton, target 14300 yuan / ton, stop loss 13650 yuan / ton
.
