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Today's Shanghai aluminum 1704 contract bottomed out, closing up to 14145 yuan / ton, down 95 yuan / ton from yesterday's settlement price, a daily decline of 0.
67%, a decrease of 6082 lots, and a volume of 323658 lots
.
In terms of futures structure, the aluminum market maintained a positive arrangement of near, low and far high, and the regular price of Shanghai-aluminum 1703 and 1704 contracts was enlarged to 100 yuan / ton, indicating that the willingness of forward contracts to resist decline increased
.
External: Ashlun aluminum oscillated rebound, the highest rose to 1892 US dollars / ton, the lowest fell to 1878 US dollars / ton, now trading at 1889 US dollars / ton, the current Lun aluminum is still running at a high level, the recent high is 1916 US dollars / ton
.
On February 16, Lun Aluminum held 69.
74 lots and reduced its position by 3139 lots, indicating that short opening is more frequent
.
Macro: The Asian dollar index traded sideways today, falling as low as 100.
74 and now trading at 100.
94
.
In addition, the UK January seasonally adjusted retail sales monthly rate and the UK January quarterly adjusted core retail sales monthly rate are both higher than the previous value, but far below market expectations, the pound plunged 100 points, losing the 1.
24 mark
.
Aluminum industry information, in December 2016, the total export value of China's aluminum and its products was 1.
92 billion US dollars, a year-on-year decrease of 4.
83%, and the total export value of aluminum and its products in 2016 was 21.
2 billion US dollars, a cumulative decrease of 10.
93%
year-on-year.
Market: On February 20, the Shanghai transaction concentration was 13800-13810 yuan / ton, the discount for the month was 230-210 yuan / ton, the Wuxi transaction concentration was 13800-13810 yuan / ton, and the Hangzhou transaction concentration was 13820-13850 yuan / ton
.
The market is deadlocked, some holders hedge the next month, and the willingness to exchange cash has weakened, but on the whole, the supply is still sufficient, intermediaries and downstream enterprises keep the original strategy unchanged, the demand for receiving goods mainly comes from the procurement rigid demand of entity enterprises, the overall transaction remains stable, and the situation of excess supply and demand has not changed
.
The Shanghai aluminum 1704 contract bottomed out and rebounded during the day, and the overall performance was still weak, and the upward momentum was insufficient
.
Trump's promise to revive U.
S.
manufacturing will help boost global aluminum downstream demand, and U.
S.
aluminum manufacturers fell to a 30-year low in 2016 and are expected to rebound
this year.
In terms of operation, it is recommended that Shanghai aluminum maintain a short and long pattern, with a pullback long reference of 14050 yuan / ton, and a stop loss reference of 13850 yuan / ton
.
