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On Tuesday, the main contract of Shanghai aluminum 1703 continued to oscillate around 13350 yuan, with an intraday trading range of 13445-13235 yuan / ton, and closed at 13335 yuan / ton at the end of the day, down 0.
3% on the day, and the upper rebound resistance focused on 13600 yuan / ton
.
At the same time, the positive price difference between Shanghai aluminum 1702 and 1703 contracts remained at 75 yuan / ton, indicating that the willingness of forward contracts to rise has weakened
.
External: Asian Lun aluminum around 1800 US dollars / ton around narrow fluctuations, of which 3 months Lun aluminum slightly fell 0.
06% to 1797 US dollars / ton, last week Lun aluminum rose 5.
53%, its upper rebound resistance focus on 1850 US dollars / ton, short-term need to be wary of technical pullback possibility, but currently Lun aluminum running above the moving average group, showing its intrinsic willingness to rise, the lower support focus on 1750 US dollars / ton
.
Macro: The dollar index tumbled 1.
25% to around 100.
3 on Tuesday, and the Asian dollar index rebounded slightly to around 100.
6 on Wednesday as Trump complained that the dollar was too strong and the British rebound against the dollar with a clear Brexit attitude
.
Aluminum industry information, Rio Tinto said that 2016 bauxite, alumina and aluminum production are higher than expected, while Rio Tinto determined that the 2017 bauxite production target is 48-50 million tons, alumina production is expected to be 800-8.
2 million tons, aluminum production is expected to be 350-3.
7 million tons
.
Market: On January 18, Shanghai aluminum trading concentrated 13160-13180 yuan / ton, the discount for the month was 90-70 yuan / ton, Wuxi transaction concentration was 13150-13180 yuan / ton, Hangzhou transaction concentration was 13160-13180 yuan / ton
.
Holders control shipments, the circulating supply is tight, the middlemen believe that the spot price is low, the willingness to receive goods is more active, the downstream enterprises purchase on demand, and the overall transaction is relatively stable
.
During the day, the Shanghai aluminum 1703 contract oscillated to close down to 13335 yuan / ton, its performance resisted the fall in copper and nickel, showing that the intrinsic willingness of aluminum prices to fall is weak, Shanghai aluminum 1703 contract maintains a long idea, it is recommended to rely on 13100 yuan above the dip, the entry reference is 13250 yuan, the target is 13600 yuan
.
