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Today's Shanghai aluminum main contract 1702 rebounded strongly, performing better than other base metals, trading at 12670-12890 yuan / ton during the day, and closing up to 12880 yuan / ton at the end of the day, up 1.
7%
per day.
At the same time, the term structure of the aluminum market changed to a positive arrangement of near, low, far high, and the positive price difference between Shanghai aluminum 1701 and 1702 contracts narrowed to 25 yuan / ton, indicating that the willingness of forward contracts to fall has climbed
.
External trend: Asian market aluminum narrow fluctuations, of which 3-month Lun aluminum slightly rose 0.
06% to 1726 US dollars / ton, still effectively stabilized above M60, its upper rebound resistance focus on 1760 US dollars / ton, short-term technical form performance is stronger than Shanghai aluminum, Lun aluminum operating range focus on 1700-1760 US dollars / ton
.
Macro: The Asian dollar index oscillated slightly to around 103.
1, still running
at a high level.
The market is currently focused on the progress of
Italian bank bailouts.
It is reported that the Italian Senate will vote
on the government's banking assistance plan at 19:00 Beijing time on December 21.
The Italian government is currently seeking parliamentary approval for a €20 billion financing plan to stabilize the country's banking sector
.
Aluminum industry information, according to data from the International Aluminum Association, global primary aluminum production in November this year was 2.
113 million tons, down 56,000 tons from the previous month, of which China's primary aluminum production increased by 73,000 tons
.
In terms of market: on December 21, Shanghai trading concentrated 12920-12950 yuan / ton, the monthly premium was 150-170 yuan / ton, Wuxi transaction concentration was 12910-12940 yuan / ton, Hangzhou transaction concentration was 12920-12940 yuan / ton
.
After the rise of aluminum in the futures, the smelter's control of goods has not weakened, the spot premium has risen sharply, the middlemen's willingness to be bullish on stocking is still more active, and the willingness of downstream enterprises to receive goods remains active yesterday, and the overall transaction is still active
.
Intraday Shanghai aluminum 1702 contract rebounded strongly to 12880 yuan / ton, the performance is stronger than other base metals, because aluminum prices continue to decline, facing technical correction demand, especially below 12500 yuan to show strong technical support, operationally, it is recommended that Shanghai aluminum 1702 contract can back 12700 yuan above the dip, entry reference around 12850 yuan, target 13000 yuan
.
