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On Friday, the Shanghai aluminum 1612 contract oscillated higher, rebounded to 12630 yuan / ton at the end of the day, up 0.
44% per day, and the current Shanghai aluminum is still effectively stabilized above the main moving average group, and the technical form is stronger than other non-ferrous metals
.
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 1611 and 1612 contracts remained at 265 yuan / ton
.
In terms of external trading: Asian Lun aluminum rushed back down, of which 3-month Lun aluminum fell slightly by 0.
09% to 1618 US dollars / ton, falling to a low point in nearly a month, showing that the upper selling pressure is heavier, and the short-term Lun aluminum decline is mostly after the Shanghai aluminum market closes, showing that the external performance is significantly soft, mainly suppressed by the strengthening of the US dollar, and the technical support below is concerned about 1600 US dollars / ton
.
Macro: The U.
S.
dollar index got rid of the oscillating trend overnight and climbed upward, rising 0.
45% to 98.
3 on the day, and continued to trade around 98.
39 in early trading, while the main contract of U.
S.
crude oil futures fell under pressure to around $50.
59 / barrel, the annualized total of U.
S.
existing home sales in September was 5.
47 million, much stronger than the expected 5.
35 million, and revised to 5.
3 million in August, the data showed that the U.
S.
housing market continued to recover, strengthening the Fed's expectations of raising interest rates
during the year 。 Aluminum industry information, according to data from the International Aluminum Association, global (excluding China) primary aluminum production in September this year was 2.
096 million tons, down 54,000 tons from the previous month, and China's primary aluminum production in September increased by 38,000 tons
month-on-month.
Market: on October 21, Shanghai spot trading volume of 13360-13380 yuan / ton, the monthly premium of aluminum 420~440 yuan / ton, Wuxi transaction 13360~13370 yuan / ton, Hangzhou transaction 13330 ~ 13350 yuan / ton, the overall market transaction in East China tends to be active, the intraday market release is relatively small, and the downstream weekend before the replenishment demand increases, the market receiving sentiment is stronger, thereby pushing up the spot premium on the basis of yesterday again
.
The Shanghai aluminum 1612 contract oscillated to 12630 yuan / ton during the day, and the performance was slightly resistant to falling other base metals.
In terms of operation, it is recommended that the Shanghai-aluminum 1612 contract can sell high and low suck opportunities between 12750-12500 yuan, and the stop loss is 100 yuan / ton
each.
