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LME aluminum closed on
Wednesday.
Shanghai aluminum main 2002 contract shock adjustment, the highest intraday 14285 yuan / ton, the lowest 14190 yuan / ton, the close of 14235 yuan / ton, unchanged from the previous trading day's closing price; The trading volume was 121,400 lots, a daily decrease of 4,246 lots, and the position was 257,200 lots, a daily decrease of 1,318 lots
.
The basis was expanded to 345 yuan/ton; The price difference between Shanghai aluminum in 2002-2003 widened to 70 yuan / ton
.
Market focus: The US Richmond Fed Manufacturing Index for December was -5, 1 expected, -1
previously.
Spot analysis: On December 25, spot A00 aluminum was reported at 14560-14600 yuan / ton, with an average price of 14580 yuan / ton, up 100 yuan / ton
per day.
In the morning, a large household took the lead in receiving goods, the price was more recognized by the market, the carrier shipped more actively, with the completion of the receipt of the large household, the market had few monthly ticket goods left, and the following monthly ticket goods were the mainstay, and at this time the transaction heat fell, and the trading between traders became calm
.
There are not many downstream intraday receipts, and it is difficult to recognize
the price.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 43,472 tons on Wednesday, a daily decrease of 723 tons, a decline of 7 consecutive days; On December 24, LME aluminum stocks were 1484525 tons, down 1,100 tons
per day.
Market research and judgment: On December 25, the main force of Shanghai aluminum rose in 2002
.
The dollar rally has slowed down, the Sino-US trade situation is optimistic, while the domestic electrolytic aluminum spot still continues to degrade, falling to the low level in the past three years, and the recent slowdown in the rise in aluminum inventory, global explicit inventory or will fall, superimposed downstream demand has improved, aluminum prices are strong, but the global economic downward pressure is greater, the recent US economic data performance is not as expected, while China's alumina imports have increased significantly, domestic port inventories continue to accumulate, oversupply pattern puts pressure on prices, pressure on aluminum prices
。 In terms of spot, a large household took the lead in receiving goods in the morning, the price was more recognized by the market, the carrier shipped more actively, and the downstream received not many goods today, and it was more difficult to recognize
the price.
Technically, the main 2002 contract daily MACD red column contraction, pay attention to the support of the 14150 position below, and it is expected that the short-term shock will rise
slightly.
In operation, it is recommended that the Shanghai-aluminum 2002 contract can be long around 14200 yuan / ton, and the stop loss is 14150 yuan / ton
.
