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Spot aluminum with period, downstream high on fear

by:Deyuan      2020-12-23
Summary of the futures market.
LME3 aluminum futures fluctuated violently, opened in 1649. Touch under $5, early fall short, the lowest price $1644, after bottoming out, after reaching high pressure drop at noon, afternoon again rise, lift turn red to top $1655, to $1652, rose 2. Five dollars. Shanghai aluminum main shocks in 1610, the overnight open to 12235 yuan, 110 yuan high, early back slightly, touch down to the lowest price is 12190 yuan, after rebounds, strong breakthrough forest rail and 20 daily average lines form resistance, center of gravity move up, near the average range trade, after the afternoon again, rose to the highest price of 12395 yuan, 12385 yuan, up 260 yuan, have risen by as much as 2. 14%. Holdings increased by 16874 to 195008 hand, volume of 171128. Spot market overview:

today Shanghai metal extraction solution trading center spot aluminum quotation in 12700 - in the morning 12740 yuan/ton, compared with the previous trading day up 130 yuan/tons, in b130 - liter discount b170。 Shanghai metal trading center spot extraction solution aluminum index in 12717. 45 points, the previous trading day up 130 points. Clinch a deal the overall general today, the shipper say less inventory, a price to sell, offer the average price + 30 yuan/tons, prices remain high, under the influence of continuous low inventory and high premium, trade huang will generally goods, downstream enterprises fear high, watching, maintain a cautious attitude.
【 Center point 】
new jobs in July 25. 180000 50000 people, the better than expected. On July 4 unemployment. 9%, worse than 4. 8% of the expected, with the June data. Federal interest rate futures market, according to the data, the market expected, the federal reserve were 18% more likely to raise interest rates in September, the top 9% of the data level doubled. As a result, the market atmosphere, warm, spurt black metal, metal extraction solution full wave red, commodity prices boost. The current aluminum maintain tight supply, inventory is decreasing, the grocers have said inventory shortage, support for aluminum prices, focus on aluminum stocks a turning point, on the other hand, the downstream demand is still poor, did not show signs of rebound, hinder the rising prices. Main technical level, the Shanghai aluminum MACD Yin line narrowing, but still above have resistance, the aluminum 5 daily average line wear 10 ma, KDJ bulls, but reaching 100 J values, or will form at the top of the pressure, expected short-term price range.
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