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Today's Shanghai aluminum main contract 1702 oscillation declined, the operating range was 13450-13280 yuan / ton, and closed at 13300 yuan / ton, down 1.
08% on the day, weaker than other base metals
during the day.
At the same time, the term structure of the aluminum market turned to a positive arrangement of near, low and far high, and the positive price difference between Shanghai aluminum 1701 and 1702 contracts widened to 50 yuan / ton, indicating that the willingness of forward contracts to rise has risen
.
In terms of external trading: Asian aluminum oscillation slightly rose, oscillation is strong, of which 3-month Lun aluminum slightly rose 0.
29% to 1738 US dollars / ton, still effectively stabilized above the moving average group, its upper rebound resistance focus on 1800 US dollars / ton, short-term technical form performance is stronger than Shanghai aluminum, London aluminum operating range focus on 1700-1800 US dollars / ton
.
Macro: The Asian dollar index fluctuates in a narrow range, now trading around 101, focusing on the Fed's interest rate meeting this week, with high
expectations of interest rate hikes.
In addition, the added value of China's industries above designated size in November increased by 6.
2% year-on-year, slightly higher than the previous value and expectations of 6.
1%, while the national fixed asset investment from January to November increased by 8.
3% year-on-year, the growth rate was the same as from January to October, but the growth rate of real estate investment slowed down to 6.
5%, showing the effect of real estate regulation and control
.
Aluminum industry information, on December 12, SMM statistics domestic electrolytic aluminum inventory, Shanghai area 99,000 tons, Wuxi 90,000 tons, South China Sea 77,000 tons, Hangzhou 22,000 tons, Gongyi 15,000 tons, the total inventory of the five places 303,000 tons, an increase of 10,000 tons
from last Thursday.
Market: On December 13, Shanghai aluminum concentrated 13300-13330 yuan / ton, and the discount for the month was 70-60 yuan / ton
.
East China inventory increased by more than 10,000 tons, the rise of aluminum was blocked and fell, Wuxi holders shipment attitude, although Shanghai inventory growth is nearly 10,000 tons larger than Wuxi, but due to the strong financial attributes of Shanghai aluminum ingots, Shanghai holders are weaker than Wuxi, so the spot price is still higher than Wuxi, the middleman is cautious, the spot is abundant, the downstream enterprises only purchase according to just demand, and the overall transaction turns cold
.
The intraday Shanghai aluminum 1702 contract oscillation fell to 13300 yuan / ton, weaker than other base metals and London aluminum, but Shanghai aluminum runs at the intersection of moving averages, the short-term oscillation pattern has not changed, and the market is focused on this week's Fed interest rate decision
.
In terms of operation, it is recommended that the Shanghai-aluminum 1702 contract maintain a range oscillation operation, which can be at 13250-13500 yuan / ton, and the stop loss is 100 yuan / ton
each.
