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Aluminium long-short differences, two light spot supply and demand

by:Deyuan      2020-12-23
Week quotation description:
LME3 month period aluminum sideways this week, this week opened in 1641. $5, early strength rise, once lift turn red to top $1663 on Monday, after the pressure drop, falling, dip the lowest price $1614 on Wednesday after the rebound upward, average convergence gradually, Aaron aluminum fluctuating around the medium-term average, near the city end closed at $1637, 4 weeks fall. $5 or 0. 27%. This week coincided with in month, the Shanghai aluminum main 1610 contract sideways shock, opened in 16190 yuan, the bulls have the upper hand, after opening up test forest rail form resistance, Monday rose to the highest 12270 yuan, after the callback, high broken under the long-term average to form multiple resistance, on Friday, hitting a two thousand mark, fell to the lowest 12000 yuan, after a strong rebound, closed at 12220 yuan, rose 60 yuan zhou, or 0. 49%. Holdings increased 33028 to 17. 60000 hand, and the volume of 48. 70000 hands. Spot trading of
aluminum spot: Shanghai trading center (metal extraction solution The original WuMao colored spot market) This week, the Shanghai trading center spot aluminum metal extraction solution offer - in 12520 About 12650 yuan/ton, up in b110 - discount B180 yuan/ton, prices stay high this week, the overall volume is general, positive shipment week traders, but markets worry in transit aluminum ingots or increase supply, this week the price impact, traders wait-and-see mood rise, downstream on-demand procurement, but aluminum ingots hasn't arrived, social inventories continue to shrink, some of the grocers said out of stock, affected by the prices continued strong, but a liter discount, continue to maintain high traders to wait more, and poor downstream market, purchasing desire to drop, inventory sufficient, near the weekend said the goods is less, maintain a cautious attitude.
【 Center point 】
affected by flooding in China July official manufacturing PMI 49. 9, below expectations of 50, but caixin PMI end 16 months less than 50 from line trend, up to 50. 6, both from mainly there was some difference of statistical caliber. In July the ISM manufacturing index 52. 6, less than expected, oil briefly fell below $40, marks into the bear market, technical renewed market worries about global economic growth, countries constantly new easing, Australia cut its benchmark interest rate to the lowest, Japan's fiscal stimulus package details not as good as expected, the new budget spending just seven. 5 trillion yen, Australia the fed cut interest rates by 25 basis points, to a record low, the bank of England cut interest rates for the first time in seven years, the benchmark interest rate by 0. Cut by 25 basis points to 5% 0. 25%. Aluminium supplies remain tight in the short term, influenced by traffic block, aluminum ingots inflows less, low inventories continue to innovate, but not rule out the possibility of shadow inventory, combined with the downstream market is bad, low inventory alone will not sustain for a long time. Main technical level, the Shanghai aluminum MACD Yin line narrowing, but under pressure from 20 daily average lines, upside is limited, Aaron aluminum KDJ bulls, but day K line thwarted by the rail in the forest, expected short-term price range.
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