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Today's Shanghai aluminum main contract 1702 oscillated around 13400 yuan / ton, trading range of 13530-13195 yuan / ton, the end of the close at 13325 yuan / ton, down 0.
22% daily, the cumulative decline of Shanghai aluminum in the past week reached 3.
62%.
At the same time, the term structure of the aluminum market maintained a negative arrangement of near high and far low, and the negative spread between Shanghai aluminum 1701 and 1702 contracts widened to 185 yuan / ton, indicating that the decline resistance of the near-month contract declined
.
In terms of external trading: Asian Lun aluminum rushed back down, continuing the weak trend, of which 3-month Lun aluminum slightly fell 0.
26% to 1715 US dollars / ton, its upper rebound resistance still continues to pay attention to 1750 US dollars / ton, short-term technical form performance is stronger than Shanghai aluminum, because the recent weakening of the US dollar to Lun aluminum to boost stronger than Shanghai aluminum, short-term London aluminum operating range to focus on 1700-1800 US dollars / ton
.
Macro: The Asian dollar index fell under pressure and is now trading around 100.
86, which has not completely fallen below the oscillating finishing platform
of the past two weeks.
The US ISM manufacturing PMI came in at 53.
2 in November, higher than expected and the previous reading, indicating further expansion of US manufacturing
.
Watch for the US non-farm payrolls data for November tonight, which is expected to increase by about 200,000 people
.
Aluminum industry information, on December 1, SMM statistics domestic electrolytic aluminum spot inventory, Shanghai area 84,000 tons, Wuxi 88,000 tons, Hangzhou 18,000 tons, Gongyi 18,000 tons, South China Sea 80,000 tons, a total of 288,000 tons, an increase of 19,000 tons
from last Thursday.
In terms of market: on December 2, Shanghai aluminum trading concentrated 13980-13990 yuan / ton, the monthly premium 10 yuan / ton to Pingshui, East China inventory increased by more than 10,000 tons, the inventory pressure of the holder is large, the shipment is positive, in the face of the red aluminum plus weekend stock demand, downstream enterprises are willing to receive goods positively, middlemen for downstream enterprises to actively find sources, the overall transaction is more active
than yesterday.
Although the inventory in Hangzhou increased greatly, most of them were converted into warehouse receipts of Qingtongxia brand, so the circulation supply was tight, and the spot price of Hangzhou was supported
.
The supply pressure is large, and the holders are actively cashing out, so although the transaction is active under the buyer's market, the spot premium will continue to decline
.
During the day, the Shanghai aluminum 1702 contract fell under pressure to 13325 yuan / ton, as the market gradually digested short-term positive factors, and the aluminum market supply pressure concerns were rekindled
.
In terms of operation, it is recommended that the short-term operation of the Shanghai-aluminum 1701 contract should be cautious, and it can be turned into a range oscillation, with the operating range focusing on 13200-13550 yuan / ton, and the stop loss is 150 yuan / ton
each.
