Medium-term Jiahe: Incentives from Alluminium, Shanghai Aluminum maintains gains

On Tuesday, LME aluminum continued to maintain its upward trend, rising sharply by US$28. It closed at $1932. Market bulls have a clear atmosphere and they have a lot of upside momentum. The floor aluminum deal 17,921 hands. Relative to the steady upward growth in trading prices, the trading volume appears to be a bit light, and the market has a relatively heavy wait-and-see atmosphere. In terms of inventory, LME aluminum stocks decreased by 1,525 tons on Tuesday, with total inventory of 499,800 tons. Market participants generally believe that the rise in the price of London Aluminum yesterday was mainly driven by the strength of the LME base metal market, and the current increase in Lon Aluminium market holdings, inventory reduction and other factors on the market bullish role. It is this kind of incentive that makes the fund firm its confidence in doing more. At the same time, from the point of view of market supply and demand, industry expansion Russian SUAL Group, one of the world's top ten aluminum producers, Alcoa and other Group profit in the third quarter of the cases are explained from the fact that the current large-scale aluminum manufacturers still The future aluminum market holds an optimistic attitude, despite the current energy and raw material prices have risen to some extent.

Judging from the domestic situation, due to the current sharp rise in the price of London Aluminum, Shanghai Aluminum has also played a significant role in promoting the relatively independent trend. At the same time, the situation in the domestic spot market has not changed much, and for the futures market, it needs a directional guideline. The trend of aluminum aluminum exactly meets the requirements of the domestic market. Judging from the situation on the disk, the current Shanghai aluminum futures price has also come out of the low position, showing a considerable increase. This will undoubtedly boost market bullish confidence and thus boost the strong upward trend in the price.

Today, Shanghai Aluminum's 0512 contract opened at 17,070 yuan, a high of 17,220 yuan and a low of 17,050 yuan, compared to a final settlement of 17,090 yuan. Deal 10,532 hands throughout the day.

Operational; bulls continue to hold, no single wait and see, should not be hastily short.

(Zhao Wei)