Shanghai aluminum afternoon comment on December 5

Overnight, the Shanghai aluminum main 2001 contract opened at 13970 yuan / ton at night, and then the trend first fell and then rose, the lowest to 13910 yuan / ton then rose slightly, and finally closed at 13940 yuan / ton, down 30 yuan / ton, down 0.
21%, mainly long position reduction
.
It is necessary to continue to pay attention to today's social inventory changes, it is expected that the main shock of Shanghai aluminum will run at 13890-14000 yuan / ton within the day, and the spot pair will rise by 50-70 yuan / ton
in the month.

In December, the US president's foreign threats continued, there were many uncertainties in the financial market, the global trade war was facing further escalation worries, nonferrous metals were widely affected by the macro environment, Shanghai aluminum showed the characteristics of near strength and far weak structure, it is recommended that Shanghai copper hold more light positions, Shanghai aluminum pay attention to 01 and 02 contract set opportunities
.

The AOO aluminum ingot price in East China was reported at 14150 yuan / ton, up 20 yuan
.
At present, the continuous dematerialization of domestic electrolytic aluminum inventories has enhanced market confidence, but in the context of the continuous decline of alumina at the cost end, the aluminum market lacks further upward momentum, and electrolytic aluminum still has more production capacity released in December, and today's spot aluminum prices may rise and fall limited
.