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On Friday morning, the main force of Shanghai aluminum opened at 13350 yuan / ton, the aluminum price at the beginning of the session around the opening position of the low oscillation, then the bulls gradually entered the market to push the aluminum price upward, touching 13435 yuan / ton before noon, the base metal and black fell in the afternoon, Shanghai aluminum touched the daily average after the bulls increased their positions again, aluminum prices rebounded to record a daily high of 13455 yuan / ton, but then triggered a larger scale of bulls to leave the market, Shanghai aluminum fell sharply to a low of 13330 yuan / ton, closing at 13335 yuan / ton
。 Intraday base metals and black fell together, but from the perspective of decline, Shanghai aluminum still showed strong resistance, still hovering near the five-day moving average, years ago funds are cautious, it is expected that next week Shanghai aluminum high narrow range volatility market maintenance, the center of gravity or slightly downward
.
In terms of the external market, Lun aluminum opened at 1823.
5 US dollars / ton in the morning, and at the beginning of the session followed the slight decline of Shanghai aluminum below touching 1816.
5 US dollars / ton, dragged down by the domestic market in the afternoon, Lun aluminum shock downward hit the bottom of 1811 US dollars / ton, entering the European trading session, Lun aluminum quickly repaired the decline, touched 1824 US dollars / ton, as of 17:00 Lun aluminum 1822 US dollars / ton
.
This week, Lun aluminum is running closely along the upper edge of the Bollinger band, and the center of gravity of the transaction has shifted significantly upward, and it is expected that next week Lun aluminum will still maintain a strong trend and seek an effective breakthrough
.
In terms of the market, aluminum rebounded
after a slight dip at the beginning of the month.
Shanghai transaction concentration is 13290-13300 yuan / ton, the discount for the month is 50-20 yuan / ton, Wuxi transaction concentration is 13280-13290 yuan / ton, Hangzhou transaction concentration is 13280-13300 yuan / ton
.
Although the inventory of aluminum ingots increased by 40,000 tons, the smelter has no intention of continuing to clear the inventory, the reduction of inventories by traders has been basically completed, the market circulation source has further tightened, approaching the Spring Festival, the future-spot price difference narrowed, the willingness of middlemen to receive goods cooled, the downstream enterprises basically completed the stocking, the demand for receiving goods weakened, and the overall transaction began to enter the pre-year track
.
In the late afternoon, aluminum first rushed to 13360 yuan / ton in the month and then fell directly, resulting in market quotation changes can not keep up with the changes in the plate, the price is more chaotic, the transaction price is 13180-13270 yuan / ton, the transaction is concentrated in the early
afternoon.
In terms of industry, customs data show that China's exports of unwrought aluminum and aluminum in December were 39 tons, a slight increase from November to November, and the total export of unwrought aluminum from January to December was 458 tons, compared with 476 tons in the same period last year, a cumulative decrease of 3.
7% year-on-year; At the end of December, the aluminum inventory of Japan's three major ports was 275,500 tons, an increase of 35,600 tons or 14.
8% from November; Rio Tinto announced in its production report on Tuesday that bauxite, alumina and aluminium production in 2016 all exceeded expectations
.
In 2016, bauxite production was 47.
7 million tons, an increase of 9% over 2015; Alumina production was 8.
2 million tons, up 5% year-on-year; Aluminum production rose 10% year-on-year to 3.
65 million tons
.
Overall, aluminum prices continue to fluctuate this week, aluminum manufacturers have been on holiday, market purchasing power has weakened significantly, and a small number of transactions in the market are mainly concentrated among
traders.
Due to the weakening of aluminum market demand, the current aluminum inventory in the Guangdong market has increased recently, but it is expected that the arrival will increase
during the Spring Festival.
