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Trade Service
As of the close of trading at 3 p.
m.
on Thursday, the main 2101 contract of Shanghai aluminum closed up at 16515, up 195, or 1.
19%.
The trend of Shanghai aluminum is strong during the day, macro sentiment is good and low inventory still has a strong support for aluminum prices, and the market also has strong confidence in downstream consumption, short-term Shanghai aluminum or continue to fluctuate in the high range, or slightly stronger; However, on the whole, the weakening of consumption and the continuous upward trend of profits will form a certain inhibition of aluminum prices, the overall upward space is limited, spot continues to pay attention to the 17,000 pressure level, operational holders are high shipments, downstream a small amount of buying, it is expected that tomorrow's spot aluminum stable and small rise
.
From the perspective of the operating rate of aluminum processing materials in November, in addition to the decline in the performance of cables, plate and strip foils, profiles and primary alloys have risen steadily, and the support of automobiles, photovoltaics, home appliances and other sectors for consumption is still relatively stable, considering the late Spring Festival this year, domestic demand will remain stable in December
.
On the supply side, Yunnan Shenhuo Phase II was put into operation earlier than expected, high profits stimulated the launch accelerated, production capacity continued to rise, and the recent opening of the import window to promote the inflow of imported goods, from the window opening and shipping schedule, the domestic aluminum ingot market in mid-to-late December is expected to be affected by imports again
.
The trend of aluminum prices still revolves around the change of inventory, from the supply and demand ends, the overall accumulation volume this month is limited, but the accumulation node or determined
in the second half of the year.
This week is facing delivery, but the position / warehouse receipt ratio shows that the risk of forced positions is reduced, short-term contradictions are eased, and the possibility of aluminum prices continuing to rise is reduced, but the recent macro atmosphere is still good, the fact of low inventory has not changed, and aluminum prices will be dominated by high volatility
.
