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On November 9, Shanghai aluminum 1801 plummeted to 15475 yuan / ton under pressure, and the current Shanghai aluminum fell to run below the moving average group, and the technical form was far worse than other base metals
.
Operationally, it is recommended that the Shanghai-aluminum 1801 contract can be backed by 15,700 yuan at a high altitude, and the entry reference is around 15,600 yuan, and the target is 15,350 yuan / ton
.
Spot: It is reported that on November 9, Shanghai aluminum trading concentrated 15280-15400 yuan / ton, the discount for the month was 30-10 yuan / ton, Wuxi transaction concentrated 15280-15400 yuan / ton, Hangzhou transaction concentrated 15430-15450 yuan / ton
.
The market bearish sentiment is strong, the phenomenon of selling is even worse than yesterday, the spot price has been lowered with the futures, the middleman has no stock, the downstream enterprises stocked yesterday, today only according to the just need to purchase, the overall transaction fell
back.
Internal market trend: Shanghai aluminum main contract 1801 contract continued to decline, and further expanded the decline, intraday trading at 15845-15320 yuan / ton, the end of the day closed at 15475 yuan / ton, the day plunged 2.
37%.
At present, aluminum prices have completely fallen below the oscillation range of the past two months, and the short-term decline atmosphere is strong
.
At the same time, the positive price difference between Shanghai aluminum 1712 and 1801 contracts remained at 85 yuan / ton, maintaining a positive arrangement
of near, low and high.
External market trend: Asian Lun aluminum under pressure continued to fall, of which 3 months Lun aluminum trading at 2112-2086 yuan / ton, now trading around 2098 US dollars / ton, at present Lun aluminum choose to fall below the recent oscillation finishing platform, short-term decline risk increased
.
Watch for support below at $2,050/mt in the evening
.
In terms of aluminum market information, on November 9, according to statistics, domestic electrolytic aluminum social inventory (including SHFE warehouse receipts), the total inventory of aluminum ingots in seven places was 1.
743 million tons, an increase of 09,000 tons from last Thursday and an increase of 04,000 tons
from Monday.
Analysis of market factors: The Asian dollar index traded around 94.
76, continuing the oscillatory finishing pattern
for more than a week.
At the same time, China's CPI increased by 1.
9% year-on-year and PPI by 6.
9% year-on-year in October, both higher than expected, indicating that inflation has improved
.
