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On November 8, Shanghai aluminum 1801 fell under pressure to 15850 yuan / ton, and the current Shanghai aluminum fell below the moving average group, and the technical form is much weaker than other base metals
.
Operationally, it is recommended that the Shanghai aluminum 1801 contract can be backed by 16050 yuan below the sky, and the entry reference is around 15900 yuan, and the target is 15700 yuan / ton
.
Asian city Lun aluminum rebound weak, of which 3 months Lun aluminum trading at 2144-2132 yuan / ton, now trading around 2135 US dollars / ton, the current Lun aluminum has not got rid of the range oscillation trend, intraday focus on M60 that is, 2131 US dollars / ton support, its performance slightly resistant to Shanghai aluminum and other non-ferrous metals
.
Spot: It is reported that on November 8, Shanghai spot aluminum trading concentrated 15660-15690 yuan / ton, the discount for the month was 40-30 yuan / ton, Wuxi transaction concentrated 15660-15690 yuan / ton, Hangzhou transaction concentration 15690-15700 yuan / ton
.
The market has a small selling phenomenon of holders, middlemen are cautious, downstream enterprises because of the sharp fall in spot prices and the enthusiasm to enter the market has increased, from the perspective of trading volume, and downstream trading volume has increased, but from the perspective of transaction prosperity, because of the selling of cargo holders leads to more difficult
transactions.
Internal market trend: the main contract of Shanghai aluminum 1801 contract continued to fall under pressure, trading at 16030-15800 yuan / ton during the day, and closing at 15850 yuan / ton at the end of the day, down 1.
15%
on a daily basis.
At present, aluminum prices have fallen below the oscillation range, and the short-term decline risk has increased
.
At the same time, the positive price difference between Shanghai-aluminum 1712 and 1801 contracts narrowed to 85 yuan / ton, maintaining a positive arrangement
of near-low, far-high.
Analysis of market factors: The Asian dollar index traded around 94.
85, still falling into a high oscillation finishing
.
In the short term, due to the imminent departure of the three core figures of the Fed and the shadow of US tax reform, the Fed's interest rate hike in December is full of uncertainty
.
In addition, China's exports in October were 6.
1% year-on-year and imports were 15.
9% year-on-year, both worse than expected
.
In terms of aluminum market information, on November 6, SMM statistics domestic electrolytic aluminum social inventory (including SHFE warehouse receipts), the total inventory of aluminum ingots in seven places was 1.
739 million tons, an increase of 05,000 tons
compared with last Thursday.
