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Today's Shanghai aluminum 1612 contract fell under pressure, falling to 12575 yuan / ton at the end of the day, down 0.
12% per day, at present, Shanghai aluminum is still effectively stabilized above the main moving average group, and the technical form is stronger than other non-ferrous metals
.
At the same time, the term structure of the aluminum market maintained a negative arrangement of near high and far low, and the negative price difference between Shanghai aluminum 1611 and 1612 contracts remained at 280 yuan / ton
.
In terms of external trading: Asian Lun aluminum continued to fall under pressure, of which 3-month Lun aluminum continued to fall 0.
89% to 1618 US dollars / ton, falling to a low point in nearly a month, showing that the upper selling pressure is heavier, and the short-term Lun aluminum decline is mostly after the Shanghai aluminum market closes, showing that the external performance is significantly soft, mainly suppressed by the strengthening of the US dollar, and the technical support below focuses on 1600 US dollars / ton
.
On the macro front: The Asian dollar index is weakly fine-tuned and is now trading around 97.
9, but still close to the seven-month high set this week
.
The annualized total of new housing starts in the United States in September was 1.
047 million, worse than the expected 1.
175 million, the lowest since March last year, indicating that the recovery of the US housing market is slowing
.
Aluminum industry information, as of the end of September, the aluminum inventory of Japan's three major ports was 286,500 tons, down 6%
from the previous month.
In terms of market: on October 20, Shanghai spot aluminum spot trading 13270-13280 yuan / ton, the monthly premium 390-400 yuan / ton, the three places compared with Hangzhou area transaction is the most sluggish, affected by the delay in shipments in the northwest region, the current holders to digest the previous inventory, aluminum ingot storage volume has not increased, thereby pushing up the spot aluminum premium of the month to around
400 yuan / ton.
In the short term, downstream demand still exists, but the willingness to actively prepare inventory is insufficient, and it is mainly based on on-demand procurement, even so, the spot premium level is still difficult to narrow
in the short term.
The Shanghai aluminum 1612 contract fell under pressure to 12,575 yuan / ton during the day, as China's economic indicators in the third quarter were intertwined, and the industrial added value in September slowed down further, which was not conducive to the rise of base metals, while the market's concerns about oversupply in the aluminum market climbed, which also weighed on aluminum prices
.
In terms of operation, it is recommended that the Shanghai-aluminum 1612 contract can sell high and low suck opportunities between 12750-12500 yuan, and the stop loss is 100 yuan / ton
each.
