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Today's Shanghai aluminum main contract 1702 fell under pressure, and the decline further expanded, the operating range was 13360-13010 yuan / ton, and the end closed at 13040 yuan / ton, down 1.
95% per day, ranking first
among base metals.
At the same time, the term structure of the aluminum market changed to a positive arrangement of near, low, far high, and the positive price difference between Shanghai aluminum 1701 and 1702 contracts remained at 50 yuan / ton
.
In terms of external trading: the oscillation of Asian aluminum is weak, of which the 3-month Lun aluminum slightly fell 0.
26% to 1735 US dollars / ton, but it is still effectively stabilized above the moving average group, and its upper rebound resistance focuses on 1800 US dollars / ton, the short-term technical form performance is stronger than Shanghai aluminum, and the London aluminum operating range focuses on 1700-1800 US dollars / ton
.
Macro: The Asian dollar index fluctuates in a narrow range, now trading around 100.
84, and the December Fed interest rate decision will be announced at about 3 a.
m.
tomorrow, and the market has high expectations of interest rate hikes, before which long-short trading cautious sentiment climbed
.
In addition, China's M2 money supply in November increased by 11.
4% year-on-year, while M1 growth rate was 22.
7%, and the scissor gap between the two is still large, indicating that funds have still not effectively entered the real economy
.
According to the National Bureau of Statistics, alumina production in November was 2.
8 million tons, an increase of 3.
8%
year-on-year.
From January to November, alumina production was 28.
98 million tons, a year-on-year decrease of 0.
7%.
In terms of market: on December 14, Shanghai trading concentrated 12990-13000 yuan / ton, the discount for the month was 30-10 yuan / ton, Wuxi transaction concentration was 12950-12970 yuan / ton, Hangzhou transaction concentration was 12960-12990 yuan / ton
。 Aluminum plunged, spot discount has narrowed, Shanghai holders control shipments, spot prices struggle at the 13,000 yuan / ton mark, Wuxi holders have a positive attitude to shipment, spot prices fell below 13,000 yuan / ton, some traders low willingness to receive goods increased, downstream enterprises according to production needs to purchase, did not see low stocking, the overall transaction due to the enthusiasm of traders and slightly warmed up
.
Intraday Shanghai aluminum 1702 contract oscillation fell to 13040 yuan / ton, the performance is weaker than other base metals and London aluminum, the current Shanghai aluminum initially fell below the short-term oscillation pattern, the risk of decline significantly climbed, as domestic alumina production continued to be high, increasing the pressure on aluminum market supply
.
In terms of operation, it is recommended that the Shanghai aluminum 1702 contract maintain a range oscillation operation, which can be 12900-13300 yuan / ton, and the stop loss is 100 yuan / ton
each.
