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Today's Shanghai aluminum 1704 contract opened high to maintain volatility, closing at 13755 yuan / ton, up 15 yuan / ton from yesterday's settlement price, an increase of 0.
11%, with a position of 261174 lots, a decrease of 12056 lots, and a volume of 305876 lots
.
In terms of futures structure, the aluminum market maintained a positive arrangement of near low and far high, and the price difference between Shanghai aluminum 1703 and 1704 contracts widened to 95 yuan / ton, indicating that the willingness of forward contracts to rise has increased
.
Externally: Asia Aluminum fluctuated lower, the lowest fell to 1876.
97 US dollars / ton, and is now trading at 1881.
5 US dollars / ton
.
On February 23, Lun Aluminum held 68.
5 lots and increased its position by 6931 lots, indicating that bulls dominated and some bears accounted for the stop loss exit
.
Macro: The Asian dollar index traded sideways today, rising as high as 101.
28 and now trading at 101.
11
.
In addition, data from the U.
S.
Department of Commerce showed that new home sales in the United States were annualized by 555,000 in January, compared with 571,000 expected; new home sales in January increased by 3.
7% month-on-month and expected to increase 6.
4%.
Aluminum industry information, CNMC aluminum smelting industry prosperity index monitoring results show that in January 2017, CNMC aluminum smelting industry prosperity index was 47.
16, the sixth consecutive month in the "normal" range; The leading synthetic index was 83.
34, down slightly from the previous month
.
In terms of market: on February 27, the Shanghai transaction concentration was 13520-13540 yuan / ton, the discount for the month was 220-180 yuan / ton, the Wuxi transaction concentration was 13520-13530 yuan / ton, and the Hangzhou transaction concentration was 13540-13560 yuan / ton
.
Holders stable shipments, aluminum futures stabilized, middlemen in addition to receiving goods for the downstream, while appropriately replenishing inventory, downstream enterprise orders increased, and spot prices stabilized, active buying willingness increased, the overall transaction gradually warmed, and the price did not change much
during the afternoon trading session.
The recent aluminum market news is not active, downstream transactions are not strong, to continue to rush to the 14,000 point requires a stronger performance of fundamentals
.
In operation, although it is not advisable to be too bearish in the medium term, but the short-term fall pattern is visible, it is recommended that the Shanghai aluminum 1704 contract short-term short price, short reference 13850 yuan / ton, stop loss reference 13920 yuan / ton
.
