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Today's Shanghai aluminum main contract 1703 under pressure decline, the performance is slightly weaker than Lun aluminum, intraday trading at 12660-12505 yuan / ton, the end of the close rose to 12510 yuan / ton, down 0.
67% on the day, the technical support below focus on 12450 yuan / ton
.
At the same time, the positive price difference between Shanghai aluminum 1702 and 1703 contracts was 5 yuan / ton, indicating that the tightness of spot goods has slowed down
.
Externally: Aluminum fluctuated in a narrow range around $1695 / ton, of which 3-month aluminum was flat to $1697 / ton, and is still running below the moving average group, and its upper rebound resistance focuses on $1750 / ton
.
Macro: The Asian dollar index rebounded weakly, now trading around 101.
7, down 0.
59% this week, a two-week losing streak
.
The final Markit services PMI in December was 53.
9, up from 53.
4 but lower than the previous reading of 54.
6
.
At the same time, the number of initial jobless claims in the United States for the week of December 31 was 235,000, close to the lowest in 43 years and lower than expected and the previous value, indicating that the US labor market continues to improve
.
Tonight, the market is focused on US non-farm payrolls for December, which is expected to increase by more than 170,000.
Aluminum industry news, Norwegian Hydro expects aluminum demand to exceed output
in 2018.
In terms of market: on January 6, Shanghai aluminum trading concentrated 12650-12660 yuan / ton, flat water to premium water 30 yuan / ton in the month, Wuxi transaction concentration 12640-12650 yuan / ton, Hangzhou transaction concentration 12640-12660 yuan / ton
.
The overall supply in East China is sufficient, the spot price is the same as yesterday, downstream consumption has entered the off-season, the premium has decreased slightly, the holder has shipped steadily, the spot premium has continued to decline, the participation of middlemen is limited, the downstream enterprises purchase on demand, the demand for stocking on weekends has weakened, and the overall transaction has shown stable prices
.
The Shanghai aluminum 1702 contract oscillated to 12510 yuan / ton during the day, initially falling below the moving average group, because short-term Shanghai aluminum still lacks key upward momentum
.
However, at present, the aluminum price has fallen to the key technical support level, before it falls below, the operation needs to be cautious, Shanghai aluminum 1702 contract can be sold high and low between 12450-12650 yuan / ton, and the stop loss is 100 yuan / ton
each.