September 30 aluminum market morning review

In terms of market: on September 29, Shanghai aluminum trading concentrated 13190-13200 yuan / ton, the monthly premium was 500-510 yuan / ton, Wuxi transaction concentration was 13200-13220 yuan / ton, Hangzhou transaction concentration was 13200-13210 yuan / ton
.
Spot premium to maintain stability, holders of shipments slightly improved, the market is generally not optimistic about the spot price after the National Day, as the holiday approaches, middlemen are increasingly cautious in receiving goods, downstream stocking peak has passed, the intensity of receiving goods has decreased significantly, and the overall transaction has decreased
compared with yesterday.

Stocks: LME aluminium stocks were down 4,875 tonnes per day at 2128750 tonnes as of September 29, 2008, close to the low of 2068925 tonnes set on December 18, 2008; In the same period, the previous period of aluminum stocks reported 103077 tons, a weekly sharp decrease of 15,361 tons, the first decrease in three weeks, far below the average inventory of 233,000 tons during the year, close to the year's low of 103072 tons, a new low
since September 30, 2011.

Overnight, the main contract of Shanghai aluminum stabilized to 12,305 yuan / ton, as U.
S.
crude oil futures climbed strongly, and the market's expectation that OPEC reached a frozen production agreement was unexpectedly fulfilled
.
At the same time, at present, Shanghai aluminum effectively runs above the moving average group, and the technical form is stronger than that of Lun aluminum
.
It is recommended that the Shanghai aluminum 1612 contract be cautiously long above 12180 yuan, and the target is 12450 yuan
.