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On Thursday, the main force of Shanghai aluminum opened at 12645 yuan / ton in the morning, the early long and short performance was cautious, and left the market one after another, Shanghai aluminum narrow range oscillated above the daily moving average, and then the bears gradually pressured, Shanghai aluminum slowly probed, before the afternoon bottomed 12600 yuan / ton after rebounding above the daily moving average, the afternoon bearish sentiment weakened, gradually expanded the scale of exit, aluminum prices were oscillated upward, closed at 12720 yuan / ton, successfully recovered the 5-day moving average
.
The view of intraday Shanghai aluminum range shock maintained, Lun aluminum downward, internal strength and external weak pattern dragged down, it is expected to continue to test the breakthrough of the 10-day moving average in the short term
.
In terms of the external market, Lun aluminum opened at 1705 US dollars / ton in the morning, the Asian session Lun aluminum trading is light, the price around the daily moving average narrow finishing, into the European trading session, Lun aluminum trading center of gravity fell slightly, repeatedly tested 1700 US dollars / ton effective support, failed to pierce, as of 18:10 Lun aluminum recorded a low of 1692 US dollars / ton, Lun aluminum completely lost the 60-day moving average, or difficult to stop the decline, try to regain the 1700 US dollar integer mark
.
In terms of industries, the London Metal Exchange (LME) on Wednesday announced the highest global warehouse rents for copper, aluminum and zinc metals from April 1, 2017, with aluminum rents ranging from 45-57 cents per tonne; The U.
S.
government issued a ban that financial institutions such as Goldman Sachs and JPMorgan will no longer be allowed to get involved in the physical business
of electrolytic copper, aluminum profiles and other metals.
In terms of the market, aluminum futures fluctuated
in a narrow range before noon of the month.
Shanghai transaction concentration is 12730-12750 yuan / ton, the premium for the month is 150-160 yuan / ton, Wuxi transaction concentration is 12730-12740 yuan / ton, Hangzhou transaction concentration is 12710-12730 yuan / ton
.
Holders maintain stable shipments, sufficient circulation sources, year-end settlement, middlemen are cautious in receiving goods, downstream enterprises end the purchase demand for monthly tickets, the willingness to receive goods declines, near the end of the year, the overall transaction shows a price trend after the New Year
.
In the late afternoon, aluminum continued to rise in the month, and the holders were reluctant to sell, and the quotation rose slightly to 12760 yuan / ton, and the middleman's willingness to receive goods was not active, and a small number of transactions were made
.
In terms of inventory, as of December 29, the total aluminum inventory of the five places was 324,000 tons, a decrease of 7,000 tons
from the previous month.
Affected by the tight railway capacity at the end of the year in Xinjiang, Gansu and other places, the arrival volume during the week continued to be low, the inventory decline was large, and the high premium in East China and Central China in the South China Sea continued, attracting an increase in the import of aluminum ingots from the two places, and the local downstream demand in South China showed signs of weakening during the same period, and the inventory increased
.
In general, inventories fell again and the spot premium of aluminum ingots was maintained, and the short-term aluminum price momentum was insufficient
.
On the plate, the bottom support of Shanghai aluminum is still solid, short-term or shock bottoming, and the overall range of the market remains unchanged
.
