Shanghai aluminum shock weakened and fundamental support was limited

Today, LME three-month aluminum was reported at 2033 US dollars / ton at 15:00 Beijing time, down 14 US dollars, or 0.
68%,
from the settlement price of the previous trading day.

In terms of the market, today's spot trading price of Yangtze River is 16700-16740 yuan / ton, up 100 yuan; Guangdong South Reserve reported 16730-16790 yuan / ton, up 120 yuan; Hua reported 16810-16830 yuan / ton, up 110 yuan
.
Holders are reluctant to sell, large households are generally enthusiastic about receiving goods, downstream procurement is general, and the transaction performance is not good
.

In terms of news, as of December 9, the scale of urban investment bond issuance this year reached 4.
1 trillion yuan, exceeding the previous historical high of more than 600 billion yuan
.
U.
S.
jobless claims for the week ended Dec.
5 were 853,000, 71.
2 prior, 72.
5
expected.
U.
S.
employment data fell short of expectations overnight, with the U.
S.
saying significant progress in fiscal stimulus, the dollar tumbling and most non-ferrous metals rising
.

Although the short-term macro sentiment is better, but the fundamental trend is obvious, inventory will enter the accumulation stage, especially the spot shortage in East China is expected to get Henan aluminum ingots to turn out of the impact, Shanghai aluminum or enter a downward adjustment stage, it is recommended to sell short, but the overall inventory is low, spot demand is stable, over-fall and premium recovery can be appropriately rebounded
.