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Today's Shanghai aluminum main contract 1701, driven by the rise in copper and nickel, also rose strongly, sealing at the limit board of 14060 yuan / ton, the daily closing price hit a new high since November 4, 2014, getting rid of the high oscillation finishing platform
in the past two weeks.
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 1612 and 1701 contracts remained at 325 yuan / ton
.
Externally: Asian Lun aluminum oscillation higher, but from the high slightly fell during the session, cutting part of the decline, of which 3-month Lun aluminum slightly rose 0.
51% to 1763 US dollars / ton, the current aluminum price from the October pullback low of 1608 US dollars / ton rebounded more than 9.
6%, its lower technical support focus on 1700 US dollars / ton, the upper rebound resistance focus on the previous high of 1800 US dollars / ton
.
Macro: The Asian dollar index fell under pressure, now down 0.
17% to around 98.
4, as the market gradually accepted the fact that Trump won and expected that it will increase US infrastructure in the future
.
At present, the market has a strong atmosphere of longing, and the financial attributes of the aluminum market dominate.
The U.
S.
Department of Commerce preliminarily ruled that an aluminum product exported by China Zhongwang Holdings to the United States bypassed the anti-dumping restrictions
imposed by the U.
S.
company on the company in 2010.
Market: On November 10, Shanghai spot aluminum trading concentrated 15170-15180 yuan / ton, the monthly premium was 280-290 yuan / ton, and the spot price exceeded 15000 yuan / ton, a new high
this year.
Wuxi transaction concentration is 15160-15170 yuan / ton, Hangzhou transaction concentration is 15260-15280 yuan / ton
.
Shanghai circulation supply is less, middlemen are generally willing to receive goods, Wuxi holders stable shipments, aluminum price limit, tomorrow ushered in the weekend stocking, middlemen bullish atmosphere continues, replenishment enthusiasm is still high, Hangzhou market is difficult to find shipping merchants, middlemen are difficult to find suitable sources, East China downstream fear of heights according to just need to purchase, traders' enthusiasm shows that spot prices still have room
to rise.
Intraday Shanghai aluminum 1701 contract was strongly sealed at 14060 yuan / ton on the limit board, because the short-term financial attributes of base metals dominated, the contradiction between supply and demand was temporarily ignored, and the overall market had a strong long atmosphere
.
In this context, short orders need to reduce positions and leave the market, and it is not advisable to risk reaching the top
.
The Shanghai aluminum 1701 contract is cautiously long above 13,800 yuan in the short term
.
