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Today's Shanghai aluminum 1704 contract oscillated around 14350 yuan / ton, and closed at 14345 yuan / ton at the end of the day, up 135 yuan / ton from yesterday's settlement price, or 0.
95% per day, outperforming other base metals
.
The position of Shanghai-aluminum 1704 contract decreased by 1046 lots, and the trading volume was 443094 lots
.
In terms of futures structure, the aluminum market maintained a positive arrangement of near low and far high, and the positive price difference between Shanghai aluminum 1703 and 1704 contracts widened to 100 yuan / ton, indicating that the willingness of forward contracts to rise has risen
.
In terms of external trading: Yashi Lun aluminum rushed back down, 3-month Lun aluminum rose to 1899.
5 US dollars / ton, now trading around 1880 US dollars / ton, its upper resistance focus on 1910 US dollars / ton
.
In terms of positions, on February 13, Lun Aluminum held 702,000 lots, increasing its position by 957 lots, indicating that the bulls entered the market to take the lead in pulling up, and the short-long pattern continued
.
On the macro front: Overnight, Yellen's hawkish comments increased the probability of a Fed rate hike in March, and the dollar index rose
.
The Asian dollar index held steady, rising as high as 101.
35 and now trading at 101.
23
.
In addition, the Labor Department said on Tuesday that PPI rose 0.
6% month-on-month in January, well above expectations and the largest increase since September 2012
.
Aluminum News, India's Sundaram-Clayton Limited (SCL) plans to open its first factory in South Carolina, USA, the company said that the new plant mainly produces aluminum high-pressure die-casting products and permanent mold gravity castings
.
Market: On February 15, Shanghai aluminum trading concentrated 14090-14110 yuan / ton, the discount for the month was 160-150 yuan / ton, Wuxi transaction concentrated 14070-14090 yuan / ton, Hangzhou transaction concentrated 14100-14120 yuan / ton
。 Smelter stable shipments, spot to the next month price difference around 220 yuan / ton, narrower than yesterday about 80 yuan / ton, yesterday buy cash selling traders close the goods, due to the weak spot, it is expected that the spot price difference after the change month is difficult to narrow, middlemen wait for the arbitrage space after the month change, the spot price rose by more than 300 yuan / ton compared with yesterday, the willingness of downstream enterprises to receive goods seriously declined, and the overall transaction was suppressed
.
The Shanghai aluminum 1704 contract was the strongest among base metals during the day, still rising
slightly.
After breaking through yesterday's previous high, today's rally has slowed, and the overall base metals sector is under pressure from the strength of the US dollar index, and there may be a correction
in the short term.
In terms of operation, it is recommended that the Shanghai aluminum 1704 contract can refer to the aluminum price to pull back to around 14280 yuan, the stop loss reference is 14050 yuan, and the target is 14500 yuan
.
