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On Monday, the Shanghai aluminum 1703 contract fell back within the day, closing down to 13,630 yuan / ton, down 120 yuan / ton from the settlement price of the previous trading day, a daily decline of 0.
87%, with an increase of 2 lots and a volume of 220494 lots
.
In addition, the positive price difference between Shanghai aluminum 1702 and 1703 contracts remained at 70 yuan / ton, indicating that the forward contract has a strong
willingness to resist decline.
In terms of external trading: Yashi Lun aluminum bottomed down, similar to the trend of Shanghai aluminum
.
The 3-month Lun aluminum was as low as 1818.
92 US dollars / ton
.
In terms of positions, as of February 2, Lun Aluminum held 710,000 lots and reduced its position by 3,904 lots, and Lun Aluminum reduced its position in recent days, indicating that the bulls took profits at high prices and were more willing to reduce positions
.
Macro: The Asian dollar index opened lower and higher, as low as 99.
602, and is now trading upwards around
99.
82.
In addition, the Caixin China composite PMI data fell to 52.
2 in January from a 45-month high of 53.
5 at the end of December, showing a moderate pace of growth in January, the lowest
since September 2016.
According to Guinean media reports, recently, the Dutch Metalcorp mining company plans to start several brotch infrastructure projects
in Guinea.
Market: On February 6, Shanghai aluminum trading concentrated 13330-13350 yuan / ton, the discount for the month was 330-310 yuan / ton, Wuxi transaction concentration was 13330-13350 yuan / ton, Hangzhou transaction concentration was 13310-13330 yuan / ton
.
The increase in aluminum ingot inventory is larger than last year, smelter shipments have increased, traders have limited shipments, spot discounts have remained stable around 300, middlemen in addition to receiving goods for the downstream, buying cash selling period operation is still its main means of operation, downstream enterprises gradually return, procurement volume gradually rebounded, the overall transaction gradually warmed
.
On Monday, the Shanghai aluminum 1703 contract fell for three consecutive days
.
Fundamentally, the purchase volume gradually rebounded, and the transaction resumed active; The latest LME inventory figures continued to decline, falling to 225,600t
.
On the technical side, the MACD red energy column continued to shrink, and the position remained unchanged; The pullback for three consecutive trading days has released bearish energy to a certain extent, and the overall bearish should not be too bearish
.
In operation, it is recommended that the Shanghai aluminum 1703 contract refer to 13550 yuan / ton and stop loss 13300 yuan / ton
.
