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Today, Shanghai aluminum continued its rally, as of the close of 3 pm, the main 2011 contract of Shanghai aluminum closed up at 14205, up 230, or 1.
65%.
Domestic electrolytic aluminum social stocks decreased by 49,000 tons
from last Thursday.
Shanghai aluminum trading positions fell slightly, this week's inventory decline is mainly due to pre-holiday stocking, domestic spot supply and demand close to balance, market sentiment biased to wait and see, should not be too optimistic
at present.
The upper pressure of Shanghai aluminum is 14500, and the lower support is 13500
.
Since September, stimulated by high profits, aluminum plants in various places have successively put on production capacity, and the pressure on the supply side has been increasing, while the current power grid investment has not yet met expectations, and the overall consumption in the peak season is not good; However, in the short term, low inventory and spot support for aluminum prices is strong, Shanghai aluminum or continue the shock trend, follow-up recommendation to pay close attention to the improvement of the demand side and the change of spot premium discount, the main force above the temporary attention to 14,500 pressure level, the operation can wait and see, it is expected that tomorrow's spot aluminum trend is stable
.
