Citic futures: Shanghai aluminum continue strong short-term pattern continued

by:AAG     2020-11-08

( 1) All day yesterday in Shanghai aluminum market maintain sideways pattern, the overall trend is still strong. ( 2) Actively with suppliers on the above goods, cash discount than yesterday expanded significantly, middlemen receiving active, 4040 fear high aluminum downstream enterprises choose just need to purchase, according to the overall than yesterday active and concentration between traders. ( 3) Japan aluminum contract premium expected in the fourth quarter compared with the previous quarters, but losses were limited, because of the premium and LME contango. Last week, the two manufacturers in the fourth quarter for the Japanese buyers contract offer premium per tons of $100 and $110 respectively ( The LME spot price premium) , which is lower than in the third quarter of 118 - tonne 119 dollars, CIF Japan. ( 4) SMM understand, due to the recent price increase is too large, rising too fast, 4040 aluminum aluminum cans factory every do a cans will take more loss, and so many cans factory said will be in September passive shutdown overhaul parts production line, the intention to try to extend the date of delivery, try to reduce the loss. Logic: the current market is still impact on the stock drop optimism, released at the same time, henan, binzhou regions such as the heating season limit production policy continue bullish prices. Short-term prices remain high and volatile situation, the more the suggestion maintain wait-and-see pattern, pay attention to the inventory data on Thursday.
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