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As of the close of 3 p.
m.
on Thursday, the main 2012 contract of Shanghai aluminum closed up at 15350, up 305, or 2.
03%; Since November, domestic downstream consumption has not weakened the trend, the off-season is not light signs once again appeared, recently in the basic face of good superimposed low inventory driven by aluminum prices have gradually stabilized 15,000, above the test of 15,500 mark; short-term Shanghai aluminum trend is still dominated by strong shocks, the main focus on 1.
52-15,500 range fluctuations, but the next cycle of delivery, premium back down need to be vigilant of pullback risk, it is recommended to cautiously chase up, the operation can be temporarily wait-and-see, it is expected that spot aluminum volatility is strong
.
In terms of inventory, the latest LME aluminum inventory was 1419225 tons, down 6225 tons from the previous trading day; The aluminum warehouse receipt of the previous period was 108396 tons, down 352 tons
from the previous trading day.
In terms of spot, the mainstream spot transaction price in Shanghai, Wuxi and Hangzhou markets is concentrated between 15330-15370 yuan / ton, and flat water - premium 40 yuan / ton
.
In terms of news, China Association of Automobile Manufacturers: China's automobile sales in October were 2.
573 million units, a year-on-year increase of 12.
5%.
China's new energy vehicle sales in October were 160,000 units, a year-on-year increase of 104.
5%.
China added 689.
8 billion yuan in new RMB loans in October, compared with 1.
9 trillion yuan
in the previous month.
China's M2 Money Supply Announcement for October: 10.
5% vs Previous Reading: 10.
9% Expected: 10.
9%.
Affected by the shortage of supply in the field of spot circulation, the Al2011 contract moved closer to the spot, driving the long-end price to attack
strongly.
In the medium and long term, the certainty of high supply growth remains unchanged, with an increase of 300,000 tons in the fourth quarter compared with the third quarter, but the import profit window has not shown a stable opening state, which inhibits the inflow of overseas aluminum ingots to replenish.
In terms of consumption, domestic consumption weakened slightly month-on-month in November, but there was no obvious cliff, and low inventories were again destocked, supporting high spot premiums and strong term back structure, making short costs higher and short-term prices showing a strong state
.
