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Long-short see-saw, aluminum or will remain volatile

by:Deyuan      2020-12-23
Summary of the futures market.
LME3 aluminium high low, opening at $1643, a small boost early, touch the highest price in 1644. $5, after falling, the breakthrough of cloth forest rail support, the center of gravity down, at the end closed at the lowest price in 1635. Falling $5, 7. Five dollars. Shanghai aluminum main 1610 contract shock slump, overnight open to 12380 yuan, 70 yuan high, early sideways, touched the highest price of 12400 yuan, after the short line diving, bottoming out at midnight the lowest price of 12270 yuan, after rebounds, rise in a short period of time after opening in the day, and again after the callback, or narrowing, finally closed at 12310 yuan. Holdings increased by 4812 to 199820 hand, volume of 128862. Spot market overview:

today Shanghai metal extraction solution trading center spot aluminum quotation in 12260 - in the morning 12700 yuan/ton, compared with the previous trading day down 40 yuan/tons, in b105 - liter discount B145, small step back. Shanghai metal trading center spot extraction solution aluminum index in 12677. 45 points, the previous trading day down 40 points. Clinch a deal the overall general today, the shipper of positive shipment, but pretty price will is stronger, quotation on average, prices remain high, east hope in circulation is less, so the quotation in the average price + 10 yuan/tons, long-short stalemate, traders more than wait to pick up the goods will generally, downstream enterprises expect prices drop, maintain a cautious attitude.
【 Center point 】
according to the National Bureau of Statistics latest data, China's year-on-year in July 1. 8%, three consecutive month of decline, the lowest since six months, China's producer prices in July - compared to the same 1. 7%, narrowing the seventh consecutive month, at the same time, China's exports slowed in July, import losses, renewed concerns about China's domestic demand. Strong U. S. LMC employment data at the same time, combined with strong non-agricultural data Friday, prompting a stronger dollar, commodity under pressure. Short-term aluminium supplies remain tight, inventories low hovering, showed no signs of rebound, the price is still play a supporting role, but before off-season demand downstream enterprises get better, less orders. Main technical level, the Shanghai aluminum supported on track in the forest, downward space is limited, Aaron aluminum KDJ slow, lack of momentum, but multiple averages below support strong, short-term price range.
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