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Trade Service
Today's Shanghai aluminum main contract 1702 oscillation declined, cutting some of the overnight decline, intraday trading at 12925-12770 yuan / ton, the end of the close fell to 12800 yuan / ton, down 0.
62%
on the day.
At the same time, the term structure of the aluminum market turned to a negative arrangement of near high and far low, and the negative spread between Shanghai aluminum 1701 and 1702 contracts narrowed to 35 yuan / ton, indicating that the willingness of forward contracts to fall climbed
.
Externally: Asian Lun aluminum oscillation slightly declined, of which 3-month Lun aluminum fell 0.
35% to 1721 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 102.
9, still running
at a high level.
In the United States, the annualized rate of existing home sales rose 0.
7% in November after the NAR seasonality, compared with an expected decline of 1.
8%.
In addition, the Italian Senate approved the government's 20 billion euro bailout package for the banking sector, thus slowing
fears of a crisis in the Italian banking sector.
Aluminum industry information, Malaysia's Minister of Natural Resources and Environment said today that Malaysia has extended the ban on bauxite mining for three months since December 31, which will partially affect the supply
of bauxite in China.
Malaysia imposed a three-month ban on bauxite mining in January, which has since been extended three times
.
In terms of market: on December 22, Shanghai aluminum trading concentrated 13040-13070 yuan / ton, the monthly premium was 150-170 yuan / ton, Wuxi transaction concentration was 13020-13040 yuan / ton, Hangzhou transaction concentration was 13030-13050 yuan / ton
.
Shanghai holders are selling at a high price, the market circulation is scarce, Wuxi holders are stable shipments, after the tail period of aluminum diving, the holder raised the price, did not adjust the price with the market, the spot price is tens of thousands, the middleman cautious mood breeds, downstream enterprises do not recognize this high price, the willingness to receive goods is cooling, and the overall transaction shows a tug-of-war
between supply and demand.
During the day, the Shanghai aluminum 1702 contract oscillation fell slightly to 12800 yuan / ton, the performance is weaker than other base metals, because after the continuous decline in aluminum prices, facing the demand for technical correction, especially below 12500 yuan to show strong technical support, operationally, it is recommended that the Shanghai aluminum 1702 contract can be backed by 12650 yuan above the dip, the entry reference around 12800 yuan, the target of 13000 yuan
.
