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Shanghai aluminum opened at 13375 yuan / ton this morning, Shanghai aluminum fell below the daily moving average under pressure from bears at the beginning of the session, aluminum prices around the 5-day moving average at 13290 yuan / ton a line of shock sorting, the afternoon bears continued to increase the entry intensity, Shanghai aluminum under pressure to record a low of 13165 yuan / ton, the end of the session long and short game under the Shanghai aluminum shock closed at 13185 yuan / ton, the volume increased to 285818 lots, the position increased by 28860 hands to 271380 hands
。 In the context of other surrounding metals are relatively strong, Shanghai aluminum is still performing poorly, coupled with the gradual weakening of fundamental support, short-term is expected to be weak and volatile, pay attention to the 40-day line support
in the evening.
Macro: The last non-farm payrolls report before the Fed's December decision was released, and the US non-farm payrolls increased by 178,000 after the November quarterly adjustment, 180,000 expected, and the previous value was revised from 161,000 to 142,000; the unemployment rate fell to 4.
6%, the lowest since August 2007, and the expected and previous value was 4.
9%.
The U.
S.
non-farm payrolls data was better than expected, and the probability of a Fed rate hike in December increased, which was bearish for base metals
.
Market: today's spot trading price of Yangtze River is 13930-13970 yuan / ton, down 70 yuan / ton; Guangdong South Reserve reported 14060-14160 yuan / ton, down 100 yuan / ton; Hua reported 14040-14060 yuan / ton, down 70 yuan / ton; The average domestic spot trading price is between
13940-13980 yuan / ton.
Today's aluminum fell slightly, and holders actively adjusted prices and shipments, but the market wait-and-see sentiment was strong, and the overall transaction was not good
.
In terms of inventory: today's aluminum inventory warehouse receipt was 7,556 tons, an increase of 2,680 tons
from last Friday.
As of December 2, LME aluminium stocks were 2139275 tonnes, down 5,575 tonnes
from the previous day.
As of December 5, the spot inventory of electrolytic aluminum was 297,000 tons, an increase of 09,000 tons from December 1, and the spot continued to arrive, which was bearish for aluminum prices
.
Overall, the market news during the domestic session was flat, the sharp rise in chemicals drove the overall rise of industrial products, and the base metal Shanghai aluminum fell alone, dragged
down by environmental factors and the gradual recovery of aluminum ingot transportation in the northwest region.
Short-term supply gradually returned to normal, inventory materials began to accumulate, but the sudden large increase led to a low probability of supply side collapse, and the overall price of aluminum fell moderately
.
Tomorrow's aluminum prices are expected to continue to fall or remain flat, for reference
only.
