Shanghai aluminum increased slightly

Outside the plate trend: overnight aluminum aluminum continues the callback trend, ending with a 1.33% fall to $2116. Today, Asian aluminum market in the narrow range of 2122 US dollars, the performance was significantly higher than the surrounding base metal stagflation, night focus on support below the 2100 US dollars. Currently, the aluminum price is running above the moving average group, and the RSI indicator is in a strong bull market, suggesting that the rally has not stopped. The underlying support is focused on the US$2,100.

In terms of spot, Shanghai Metalnet's aluminum spot price is RMB 15020-15060/ton, which is RMB 20/ton higher than that on the 13th. Aluminum is now discounted by RMB 20/ton. According to reports by Shanghai Nonferrous Metals Co., Ltd., the overseas shipping traders in the East China market have increased their shipments and their quotation is firmer than that of Pingshui. The downstream and middle-managers have a slight willingness to make up the store at the weekend, and the demand for access to goods on a bargain rose slightly, and the overall market conditions have been steadily rising. The turnover of current aluminum in the Guangdong region rose to 15,150-15,160 yuan per ton. The supply of goods was limited while the downstream and middlemen received goods on weekends. The overall market conditions were positive.

Inside the plate trend: Shanghai aluminum 1303 contract opened slightly lower today 25 yuan to 15,395 yuan, intraday oscillations rose slightly, trading range of 15430-15390 yuan, slightly rose 0.06% to 15,425 yuan late. In addition, today's Shanghai Aluminum Index positions increased by 6764 to 181014, volume increased by 4904 to 35072. The aluminum price position began to increase, indicating that the short-term defensive performance began to attract some funds to enter the market, but the overall aluminum market is still lacking in popularity, and the need to continue to focus on the performance of positions in the later period.

Analysis of market factors: In December, China's HSBC manufacturing PMI for the first time in 14 months hit a new high of 50.9, a 14-month high, which further validated the steady rebound in China's economy. At the same time, the market over-satisfied with the Central Economic Work Conference and looked forward to the introduction of a wide-ranging fiscal stability monetary policy. The futures index rose more than one hundred points in the afternoon and commodity prices rose broadly. However, there was no progress on the fiscal cliff, and the commodity trend, especially the base metals, was still constrained. The Euro zone PMI and US industrial data were closely watched in the evening. In terms of aluminum supply, driven by concerns about tight domestic supplies, Chinese aluminum smelters will be willing to purchase alumina at higher prices next year. Their import prices are about 16.1%-16.3% of LME aluminum prices, which is higher than 2012. 15.2%-15.5%.

Quoted in the market: Today's Shanghai aluminum 1303 contract to a narrow run to 15,425 yuan. The short-term Shanghai aluminum positions have increased, and funds have begun to show interest in trading aluminum prices. However, considering that Shanghai Aluminum has continued to face oversupply and lack of financial attention, the short-term aluminum price will continue to be weak as the increase in positions is not enough. pattern. In operation, Shanghai Aluminum is advised to maintain a wait-and-see attitude. The 1303 contract focuses on bearish bias under the 15500 and the lower support focuses on 15350 yuan.