Experts predict the trend of aluminum futures in Shanghai on the 16th
On November 15th, Shanghai Aluminum opened slightly lower and shrank, with the monthly contract closing slightly lower. Industry analysts believe that the domestic tight supply situation still supports aluminum prices, but short-term lack of basic metals and domestic copper cooperation.
On Wednesday, November 15, the Shanghai Futures Exchange (SHE) aluminum main 701 contract opened at 2,050 yuan and closed at 2,050 yuan, down 140 yuan; the spot 611 contract closed at 21,180 yuan, up 110 yuan.
Bette Futures analyst Gao Ye believes that Shanghai Aluminum will maintain its wide range of shocks due to its good spot and low inventory support.
Shanghai Aluminum opened lower on the back of a slight fall in London aluminum overnight. The short-term bulls tried to push up prices due to good spot and low inventory support. However, due to the sharp fall in copper and natural rubber, the dragged down prices and opened in the afternoon. Triggered a diving market, in the critical support 19800 line, short-range like the price quickly rebounded, and finally closed at 2,050, and flat with the opening price.
Shanghai spot aluminum rose 15 yuan to 21,160 yuan / ton, Guangdong Nanhai spot fell 120 yuan, the transaction range is from 21080 to 21200 yuan / ton, futures closed at 21,180 that month.
On the 14th, the London Metal Exchange (LME) regained profit in the volatile trading and the base metal fell across the board. Three-month aluminum closed at 2,686 US dollars, down 28 US dollars, the same day volume of 163,744 hands, a substantial reduction of 8238 positions, inventory reduction of 500 tons. Spot / three months discount 22.5/20.5.
The US dollar was slightly lower across the board on the 14th, as data released by the United States showed that producer prices rose slowly and consumers showed signs of fatigue. The data released by the United States hit metals, and the US producer price index fell by 1.6% on a month-to-month basis in October, a record-breaking decline. In October, the core producer price index after the elimination of food and energy in the United States fell by 0.9% on a month-to-month basis, which was a larger decline since August 1993. In October, the annual rate of producer price index fell by 1.6%, which was a larger decline since September 2002. In June 2006, the annual growth rate of the US producer price index was still 4.9%.
The commodity CRB index rebounded slightly on the 14th. As far as the CRB index is concerned, it is too early to assert that the base metals are peaking. The CRB index has fallen slightly since reaching a record high of 410.67 on the 9th. If the index is updated again, it will indicate that the bull market is The pace is still firm.
Shanghai Aluminum fluctuate sharply on the 15th and the price received strong support on the 19800 line. However, the short-term uptick of London's basic metals and domestic copper balances has led to short-term shocks in digesting traders' short-term sentiment.
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