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On Monday morning, the main force of Shanghai aluminum opened at 13440 yuan / ton, the bulls actively entered at the beginning of the session, Shanghai aluminum wide range oscillation, the center of gravity slightly moved up to touch 13495 yuan / ton, then empty into the long flat, Shanghai aluminum slowly fell, the afternoon early long and short are cautious, Shanghai aluminum narrow range oscillation at 13350 yuan / ton line, then Shanghai aluminum volume aluminum price diving low touched 13275 yuan / ton, but then triggered more short take profit to close the position exit, aluminum prices quickly pulled up to the level before diving, at the end of the session some bears chose to leave the market, The price of aluminum closed at 13390 yuan / ton
.
The main force closed the doji for two consecutive days, the high pressure is significant, the continued upward momentum is limited, and it is expected that the high entrenchment is difficult to sustain.
In terms of the external market, in the morning, Lun aluminum opened at 1810 US dollars / ton, after a slight upward rise at the beginning of the session, it followed the domestic Shanghai aluminum decline, the low touched 1804.
5 US dollars / ton, at noon Lun aluminum repair decline rose back to the daily average of 1809 US dollars / ton around the shock, into the European trading session, the base metal up, Lun aluminum rushed up to touch 1819 US dollars / ton, again under pressure back to the opening position, as of 17:00, Lun aluminum 1807 US dollars / ton, down 6 US dollars / ton, short-term Lun aluminum continued upward momentum can gradually decrease, The high volatility test
is expected to continue in the short term.
In terms of industry, Russian customs data show that Russia exported a total of 3.
2 million tons of aluminum from January to November, an increase of 100,000 tons or 3.
2% over the same period last year; At the working conference of Chinalco, it was disclosed that it achieved an operating profit of 1.
9 billion yuan in 2016, the best operating performance
since 2008.
In terms of market, Shanghai trading concentrated 13160-13180 yuan / ton, discount for the month 70-40 yuan / ton, Wuxi transaction concentrated 13160-13180 yuan / ton, Hangzhou transaction concentration 13120-13150 yuan / ton
。 Holders of stable shipments in the early stage of the transaction, the price of aluminum in the later stage of the transaction fell sharply, but the price difference in the next month expanded to around 80 yuan / ton, the holder waited for the change of month, the price was sold, the difference between the aluminum far month and the spot price widened, the middleman can carry out the sale of the period to buy cash, the receiving is active, the far month is stronger than the recent month, the downstream chooses to purchase before the month, the enthusiasm for receiving goods is improved, and the overall transaction is acceptable
.
In the late afternoon, aluminum fluctuated at a low level of the month, the price of the holder was 13170-13180 yuan / ton, and the middlemen and downstream enterprises completed the task of receiving goods in the morning, and there was almost no transaction
in the afternoon.
In terms of inventory, the latest released data show that as of January 16, the total social aluminum inventory in the five places in the country was 363,000 tons, an increase of 08,000 tons from last Thursday, and the inventory recovery trend continued
.
The market's speculation on aluminum supply-side reform has temporarily come to an end, and the expansion of discounts and the recovery of inventory have become obstacles to the upward movement of aluminum prices; The deterioration of supply and demand caused by the increase in supply will return to dominance, and aluminum prices will continue to be under pressure
in the medium term.
On the plate, there is strong pressure on the 13,500 line of Shanghai aluminum, and multiple breakthroughs have failed or triggered long take profit and retreat, and the short-term can choose the opportunity to sell short at the high
.
