Shanghai aluminum ended in the end of the shock to close down, short-term into a narrow range of volatility

Externally: Yashi Lun aluminum fell under pressure for the fifth consecutive day, of which 3 months Lun aluminum fell 0.
5% to 1691 US dollars / ton, up to now this week Lun aluminum has fallen 3.
34%, the current aluminum price compared with this round of high of 1794.
5 US dollars / ton has accumulated a pullback of 5.
74%, the performance of weak Shanghai aluminum, because the strength of the dollar on Lun aluminum more than Shanghai aluminum, short-term Lun aluminum operating range concern 1700-1750 US dollars / ton
.

On the macro front: The Asian dollar index oscillated higher to around 100.
36, near a recent high of 100.
57 set overnight, as expectations of a Fed rate hike in December rose
.
In addition, US industrial output was flat m/m in October, underperforming the expected growth of 0.
2%.

Aluminum industry information, on November 17, SMM statistics domestic electrolytic aluminum social inventory, Shanghai area 85,000 tons, Wuxi 75,000 tons, Hangzhou 12,000 tons, South China Sea 66,000 tons, Gongyi 41,000 tons, the total inventory of the five places 279,000 tons, an increase of 14,000 tons
from last Thursday.

Market: On November 17, Shanghai aluminum trading concentrated 14160-14180 yuan / ton, premium 400-460 yuan / ton, subsequent aluminum continued to explore, market quotations chaotic few transactions, Wuxi transaction concentration 14160-14170 yuan / ton, Hangzhou transaction concentration 14210-14230 yuan / ton
.
Before the decline of aluminum aluminum, the market supply is abundant, the holders actively dump the goods, the traders are more active, and the transaction is
acceptable.
After the continuous decline of aluminum, the market's willingness to receive goods weakened significantly, and the downstream performance was still relatively wait-and-see, and the overall transaction in the East China market within the day was average
.

During the day, the Shanghai aluminum 1701 contract fell under pressure to 13430 yuan / ton, as the short-term dollar index stood strongly above the 100 integer mark, increasing the pressure on the base metal pullback, while in terms of futures aluminum, primary aluminum production in October climbed year-on-year, increasing the supply pressure
of the domestic aluminum market.
In terms of operation, it is recommended that the short-term Shanghai aluminum 1701 contract be mainly range-based, with an operation range of 13350-13700 yuan / ton and a stop loss of 120 yuan / ton
.