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On Wednesday, the intraday trend of base metals was basically the same, both of which fluctuated upward after a slight decline at the beginning of the session
.
The Shanghai aluminum 1703 contract opened at 12605 yuan / ton in the morning, and the bears put pressure on the bottom at 12505 yuan / ton at the beginning of the session, and then triggered the Shanghai aluminum volume to repair part of the decline, and the short flat more into the lower Shanghai aluminum maintained a volatile upward trend to close at 12680 yuan / ton
.
Although the cost support is obviously strong, the bulls' entry scale is not large, the short-term shock view is maintained, the upper and lower space are relatively limited, and the short-term or continue to test the effective support
of 12500 yuan / ton.
In terms of external trading, Lun aluminum opened at 1685.
5 US dollars / ton in the morning, the intraday trend followed the domestic Shanghai aluminum, the beginning of the session slightly lower to test the bottom of 1680 US dollars / ton, and then the transaction price continued to rise, touching 1691.
5 US dollars / ton, the 5-day moving average showed strong resistance, Lun aluminum fell to the daily average near the oscillation, into the European trading session Lun aluminum still maintained a narrow daily average oscillation, as of 17:31, Lun aluminum 1686 US dollars / ton, the lower edge of the Bollinger track support effect is obvious, the evening Lun aluminum
。
In terms of the market, the aluminum futures first fell and then rose lower than the opening price in the month, with Shanghai trading concentrated 12650-12660 yuan / ton, the premium of the month 30-40 yuan / ton, Wuxi trading concentrated 12630-12650 yuan / ton, Hangzhou trading concentrated 12680-12690 yuan / ton
。 Shanghai inventory was flat this week, Shanghai holders shipped steadily, the circulation supply was sufficient, and the overall transaction was acceptable; During the New Year's Day, Wuxi arrived more, the largest increase in inventory, the shipment attitude of the holders was positive, the aluminum pressure test was 12500 yuan / ton, the middlemen and downstream enterprises were in a wait-and-see mood, Wuxi transaction was cold, Hangzhou holders due to the small increase in inventory shipment attitude was stable, Hangzhou area transaction is general
.
Overall transactions showed regional differences
.
In the late afternoon, aluminum fluctuated upward in the month, and the transaction price in Shanghai moved up to 12670-12680 yuan / ton, and a small number of transactions were made
.
In terms of industry, Alcoa said on January 3 that it will temporarily close the Suralco bauxite mine and alumina refinery in Suriname, with a full capacity of 2.
2 million tons of alumina per year; *ST Shenhuo announced at noon today, according to the calculation of the financial department, it is expected that its aluminum products will achieve a profit of 1.
278 billion yuan in 2016, an increase of 2.
25 billion yuan over the same period last year of 972 million yuan
.
On the whole, Shanghai aluminum market funds are still long, mainly based on the expectation of excess market in the first quarter of this year, and the main force of Shanghai aluminum will remain low and
weak.
The current aluminum market has also recently underperformed Shanghai aluminum under the pressure of increasing supply, and weak demand has not triggered downstream buyers to replenish at low prices
.
Technically, Lun aluminum proved $1680 support, continue to oscillate above the half-year line to build a bottom, above a number of moving average bears arranged counterpressure on the price continues to put pressure, short-term shock is also needed to digest the weak pattern
.
