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Today's Shanghai aluminum main contract 1702 oscillation strengthened, the performance is stronger than Lun aluminum, intraday trading at 12740-12550 yuan / ton, the end of the close fell to 12720 yuan / ton, up 0.
55% daily, indicating that aluminum prices fell into the intersection of moving averages oscillation finishing
.
At the same time, the term structure of the aluminum market turned to a positive arrangement of near, low and high, and the positive price difference between 1701 and 1702 contracts was 45 yuan / ton, indicating that the tightness of spot goods has slowed down
significantly.
In terms of external market: Asian Lun aluminum continued to fall under pressure, but the decline narrowed significantly, of which 3-month Lun aluminum slightly fell 0.
06% to 1703 US dollars / ton, fell to the moving average group below the operation, its upper rebound resistance focus on 1760 US dollars / ton, short-term technical form performance is weaker than Shanghai aluminum, Lun aluminum operating range focus on 1700-1760 US dollars / ton
.
Macro: The Asian dollar index fell under pressure to around 102.
83, showing a weak rebound from the high, and the US existing home sales index fell 2.
5% m/m to 107.
3 in November, up 0.
5%
expected.
At the same time, U.
S.
crude oil futures stabilized around $53.
84 per barrel, maintaining the gains recorded at the beginning of the week
.
Aluminum industry information, on December 29, SMM statistics domestic electrolytic aluminum spot inventory, Shanghai 90,000 tons, Wuxi 100,000 tons, South China Sea 82,000 tons, Hangzhou 29,000 tons, Gongyi 23,000 tons, the total inventory of the five places 324,000 tons, down 07,000 tons
from last Thursday.
In terms of market: on December 29, Shanghai aluminum trading concentrated 12730-12750 yuan / ton, the monthly premium was 150-160 yuan / ton, Wuxi transaction concentration was 12730-12740 yuan / ton, Hangzhou transaction concentration was 12710-12730 yuan / ton
.
Holders maintain stable shipments, sufficient circulation sources, year-end settlement, middlemen are cautious in receiving goods, downstream enterprises end the purchase demand for monthly tickets, the willingness to receive goods declines, near the end of the year, the overall transaction shows a price trend after the New Year
.
The Shanghai aluminum 1702 contract rebounded to 12720 yuan / ton during the day, and the performance resisted the decline of Lun aluminum, but the short-term Shanghai aluminum still lacked key upward momentum, and the oscillation pattern remained unchanged
.
Prior to this, it is recommended that the range oscillation operation is the mainstay, and the Shanghai aluminum 1702 contract can be sold high and low between 12600-12900 yuan / ton, and the stop loss is 100 yuan / ton
each.
