Construction Information (11.16): Copper, Aluminum

The "Risk Warning" section of the journal aims to describe the risk of long and short positions through the icon of the star flag. It can be used as a reference for investors when dealing with open positions. In practice, investors need to trade according to their own short-term lines. Different strategies and different varieties of fluctuations in the characteristics of a specific grasp. The specific star classification criteria are as follows: ☆ The reverse run range of new-year closing price may be less than 2%. ☆ ☆ The reverse run range of new-term closing price may be greater than 2%. ☆☆ ☆ The price range is reversed from the newer closing. The rate may be greater than 3%. ☆☆☆☆ The reverse run of the period from the newer close may be greater than 4%. ☆☆☆☆☆ The reverse run of the period from the newer close may be greater than 5%. Risk Warning: Bulls: ☆ Short Risks: ☆ Tips before the market: Orient: Copper: Due to relative calm in fundamentals, yesterday's copper movement in LME in March showed a turbulent trend, with an intraday intraday breakdown of 3,000 US dollars. The intervention of late speculative buying made the price of copper return to the 3,000 mark. It closed at $3005/tonne, down by $14.5/tonne from the previous trading day, and ranged from $3032.5 to $2985.5/tonne. From the current trend of copper prices, due to the relative calm of the fundamentals, the first-line competition in the 3000 US dollars will make copper prices will appear repeatedly. From the perspective of the positions held by the CFTC, as of November 9, 14609 hands, a net increase of 2448 more than the week before the announcement. The domestic Shanghai copper continued to rise yesterday. The November contract on the later trading day ended at 32,300 yuan/ton, ending its mission. Due to strong domestic demand, the domestic tight spot situation will continue to maintain. The domestic spot price continued to rise yesterday. Reported 32150 ~ 32250 yuan / ton, the operation should be based on the day of short-term trading. Aluminium: LME's March aluminum exhibited a downward trend in shock yesterday. It ended the day at 1796.5 US dollars/ton, which was a decrease of US$17.5/ton from the previous trading day. The re-inventory of stocks has laid down the fortunes of aluminum prices. Shanghai aluminum exhibited a turbulent trend yesterday. The bottom was supported by the 5-day moving average. Due to the incremental funds entering the market, the recent volatility of the aluminum price may have been active. Yesterday, the contract of 0501 contracts was 19,818 contracts, and the short-term aluminum price was above resistance. Located in the 16,000 yuan line. Domestic spot prices also rose slightly yesterday, reported 15630 ~ 15660 yuan / ton. Ma Hongqing: In the face of the current inventory consumption situation, international traders have established arbitrage positions in LME futures and the domestic spot market, and managed to force domestic short positions to go out through adjustment of domestic spot premiums, which in turn led to a smooth exit of LME's bullish positions. Under such a trading mechanism, the domestic counter-trading on the LME is merely an intermediary, and the anti-set profit is only equivalent to the meaning of the intermediary fee. The loophole of such a trading mechanism is the breakage of the capital chain of international traders, that is, the copper market demand has significantly decreased, and at the same time, the increase in supply, the spot premium can not be maintained. As far as the current situation is concerned, the fundamentals data can still maintain the trading mechanism of international traders. Of course, the copper price has a position that has a high limit, such as the plunge on October 13. Therefore, it is estimated that the domestic spot price will reach 32000/32500, which will cause a significant head. The price of LME copper rose sharply lower on Monday. The price experienced a heavy sell-off above 3000, and the position level sharply increased. However, we can't say that the copper price has peaked on the technical trend. Only after the LME copper price fell below 2970, we can think that the copper price is already Met the top. Technically, the price of copper has entered a significant watershed. In the next two or three trading days, the trend of copper prices will give us a hint of the next stage. Shanghai Copper CU502 is expected to test the support level of 28300 on Tuesday, the pressure is on the 28500 line, investors pay close attention to the spot premium situation. Investors are advised to tentatively establish a few short positions on the CU502 near 28500. Overseas express delivery: London November 15 news: The London Metal Exchange (LME) base metal further weakened on Monday afternoon, almost all contracts are falling. The trader said that with the advent of the third Wednesday, plus last week The five closing technical indicators were positive, and the lack of follow-through buying by the market followed the decline in metal prices. The response to the weakening US dollar was flat, while the US dollar trend had pushed the Asian market to rise. “This is due to technical reasons. There is no real news. , and the transaction volume is not large. "A trader said. The market for the third Wednesday trading order is particularly heavy on aluminum, but the impact on Other metals is relatively small. Three-month copper fell soon after opening, Because it still holds the $3,000 checkpoint, it closed down $13 to 3,004, hitting a daily high of 3,032.50. LME copper stocks have fallen by 84% since the end of 2003. Supported by this fundamental, copper prices have continued to rise recently. A trader stated that "the market opened at the start of a new high, but because of follow-up buying is difficult to sustain without return." Copper futures / next day reverse spread from the pre-market trading at $ 7 to extend the transaction The US$15. Spot/three-month reverse spread persisted, expanding from $113 last Friday to $117. Three-month aluminum fell $15.50 to 1,798, affected by factors such as earlier spot selling. Spot/three The monthly spread has been positively spread by $1.50 and the previous Friday was the reverse spread by $2.50. The inverse spread had reached $70 a month ago. The three-month nickel fell by $200 to 14,500. The three-month nickel dropped by $25 to 9,125 US dollar. Three-month lead fell slightly by 2 US dollars to 952/953, but three-month zinc rose by 3 US dollars to 1,119, driven by trade buying. COMEX Copper Market Report: New York, November 15 News: New York Copper futures exchanges (COMEX) closed lower on Monday, after the copper price hit a one-month high in overseas markets, participants here and in the London market locked in profits. However, traders said that the short-term decline of copper is to regain its upward trend. Ready to prepare. Today's intraday turmoil, traders said copper is beginning a short-term correction, the market to digest the cycle of copper innovation There is a series of highs. One trader said that Monday’s sell-off was a profit settlement. He believes the copper decline is “not worth mentioning” and expects copper prices to rise later this week. December copper closed down by 0.70 cents. , reported at 1.3875 US dollars per pound, had hit a one-month high of 1.3970.12 month period once fell to a low of 1.3750. spot copper in November rose 0.85 cents to close at 1.4365. other monthly periods fell about 0.55-0.90 cents Not so much. The estimated trading volume is 12,000, which is about the same as last Friday.

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