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Today's Shanghai aluminum main contract 1701 fell under pressure, closing down to 13600 yuan / ton, down 1.
45% on a daily basis, and the trading range was 13930-13485 yuan / ton
.
At the same time, the term structure of the aluminum market maintained a negative arrangement of near high and far low, and the negative spread between Shanghai aluminum 1612 and 1701 contracts narrowed to 380 yuan / ton, indicating that the near-month contract still performed against decline
.
Externally: Yashi Lun aluminum fell under pressure for the fourth consecutive day, of which 3-month Lun aluminum fell 1.
04% to 1713 US dollars / ton, down 1.
33% from the intraday high of 1735 US dollars / ton, the current aluminum price has accumulated 4.
57% pullback from this round of rising high of 1794.
5 US dollars / ton, the performance is weaker than Shanghai aluminum, because the strengthening of the US dollar on Lun aluminum is more than Shanghai aluminum, Lun aluminum operating range concern 1700-1750 US dollars / ton
.
On the macro front: The Asian dollar index edged higher to around 100.
15, the highest since late November, as better-than-expected U.
S.
retail sales data for October and speeches from Fed officials further reinforced the possibility of
a Fed rate hike in December.
Aluminum industry information, Goldman Sachs recently raised the forecast for aluminum prices in the next 3/6/12 months from $1650, $1600 and $1550 to $1680, $1650 and $1600 / ton
.
Market: on November 16, Shanghai spot aluminum trading concentrated 14600-14610 yuan / ton, mid-session aluminum from 14100 yuan / ton rushed to 14200 yuan / ton around 14200 yuan / ton, spot premium 430-440 yuan / ton, later aluminum fell again, but the spot transaction price did not change, spot premium 530-540 yuan / ton, holders fear the fall mentality breeding, cash willingness strengthened, middlemen slightly low replenishment, downstream enterprises inquiry positive, but cautious wait-and-see, only a small amount of bargain
。
During the day, the Shanghai aluminum 1701 contract fell under pressure to 13,600 yuan / ton, as the short-term dollar index stood strongly above the 100 integer mark, increasing the pressure of base metal pullback, while in terms of aluminum futures, 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 is mainly range-based, with an operation range of 13400-13800 yuan / ton, and a stop loss of 120 yuan / ton
each.
