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On Tuesday, the main contract of Shanghai aluminum rose strongly at 1703, the increase expanded significantly, the intraday trading range was 12870-12545 yuan / ton, and the end closed at 12870 yuan / ton, up 1.
94% on the day, and the technical support below focused on 12700 yuan / ton
.
At the same time, the positive price difference between Shanghai aluminum 1702 and 1703 contracts remained at 55 yuan / ton, indicating that the tightness of spot goods has slowed
down significantly.
Externally: Asian aluminum oscillation slightly increased, the increase is significantly weaker than other base metals, of which 3-month Lun aluminum slightly rose 0.
15% to 1724 US dollars / ton, the current Lun aluminum is still running at the intersection of moving averages, the short-term running direction is not clear, its upper rebound resistance focuses on 1750 US dollars / ton
.
Macro: The U.
S.
dollar index slipped under pressure on Monday and continued to run weakly around
101.
9 on Tuesday morning.
In addition, China's PPI rose 5.
5% year-on-year in December, the largest since September 2011, higher than the expected 4.
6%, and last year's PPI fell 1.
4% year-on-year, a decrease of 3.
8% compared with 2015, indicating that the effect of the domestic industrial products de-capacity and de-inventory policy has been shown, and the supply and demand situation has improved
.
Aluminum industry information, it is understood that in early December due to environmental protection problems to reduce 350,000 tons of operating capacity of Bosai pioneer alumina company has begun to resume production around New Year's Day, although the current operating capacity has not reached the original operating capacity of 700,000 tons before the shutdown, but it is expected to return to the original operating capacity
in the short term.
Market: On January 10, Shanghai aluminum trading concentrated 12500-12580 yuan / ton, the monthly discount of 40 yuan / ton to flat water, Wuxi transaction concentration 12490-12580 yuan / ton, Hangzhou transaction concentration 12500-12580 yuan / ton
.
The low-dip discount transaction is more active, the low level of the aluminum period rises rapidly, the holder gradually controls the shipment intensity, the discount narrows, the quotation is also adjusted with the plate, the downstream enterprises are more active in bargain hunting, the willingness of middlemen to stock goods is not strong, but the activity of downstream receiving goods is high, and the overall transaction is warmed
up compared with the previous day.
Intraday Shanghai aluminum 1703 contract rose strongly to 12870 yuan / ton, the increase is stronger than Shanghai nickel and Shanghai copper, and sharply cut last week's decline, mainly driven by technical rebound demand and ferrous metal rise, due to the rise in raw materials such as coking coal and coke to increase the cost of primary aluminum smelting, Shanghai aluminum 1703 contract operation ideas from oscillation to more, it is recommended to back 12700 yuan above the dip, entry reference 12800 yuan, target 13000 yuan
.
