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Aluminum futures continued to fall, the downstream receiving will rise

by:Deyuan      2020-12-23
Summary of the futures market.
LME3 aluminum shocks, opened in 1606. $5, early shocks finishing, briefly touch on the highest price $1610, after the callback, the afternoon once fell to the lowest of 1602. $5, and then again to boost, and the city end closed at 1608. $5, rose $2. Shanghai aluminum main 1609 contract shock slump, overnight open to 12175 yuan, rose 10 yuan, opening downward fall, after the rebound, near night on the end of the plate touch the highest price of 12210 yuan, short morning absolute upper hand, diving down quickly, once fell to the lowest 12115 yuan, in the middle of the after shocks finishing, closed at 12120 yuan, down 45 yuan, or 0. 37%. Holdings by 1404 to 181170 hand, volume of 86604. Spot market overview:


today Shanghai metal extraction solution trading center spot aluminum quotation in 12500 - in the morning 12540 yuan/ton, compared with the previous trading day down about 60 yuan/ton, up in the b180 - discount B220, premium rate increased significantly. Shanghai metal trading center spot extraction solution aluminum index in 12557. 45 points, compared with the previous trading day dropped 60 points. Today's overall volume, prices remain high, quotation in average price + 30 yuan/tons, inventories continue to shrink, the shipper's price to sell, market brand is mixed and disorderly, east hope. Due to the premium rate 200 yuan/ton, reduced the traders profit, wait-and-see mood rise, as prices downstream enterprises will rise, goods with cargo has increased.

【 Center point 】
the next two days will be a policy-setting meeting, the probability of only 8%, the market is expected to raise interest rates and expectations of rates at least once by the end of substantial warming to 47. 5%, than the UK 7 after the referendum. 7% minimum levels soared nearly six times. Mainly market bullish on the U. S. economy, and the results more than expected, U. S. stocks high frequency innovation, these adjustments are boosting market expectations. But due to a glut on the oil and worries about economic trends in the world, the big investment Banks are sing empty of oil, oil plunged again, metal extraction solution under pressure. In the short term due to transportation, maintain tight supply aluminum ingots, inventories continue to shrink, but after entering the off-season, the downstream enterprises lack of orders, aluminum rods serious unsalable, the upcoming G20 summit, strengthening environmental monitoring, some companies were forced to shut down, prices low inventory alone will not continue to maintain. Main technical level, the Shanghai aluminum MACD Yang line broadening, brin channel narrow, but there are still below support, Aaron short aluminum KDJ, 60 - day moving average support, is expected to short-term price shocks weak.
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