Construction Information (12.1): Copper and Aluminum

The "Risk Warning" section of the magazine aims to describe the risk of long and short positions through the icon of the star flag. It is used as a reference for investors when dealing with open positions. In actual operation, investors need to trade according to their own short-term midlines. 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-year 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 closing may be greater than 4%. ☆☆☆☆☆ The reverse run of the period from the newer closing may be greater than 5%. Risk Warning: Bulls: ☆ Short Risks: ☆ Tips before the market: Orient: Copper: Affected by the recent first increase in copper inventories, LME copper prices in March rose sharply lower yesterday, closing at USD 3106.5/tonne, down USD 12/ton over the previous trading day. The fluctuation ranged from 3139.5 to 3087.5 US dollars/ton. After the United States announced last night that the third-quarter GDP had increased by 3.9% during the quarter, the price of copper was once rushed, but it was resisted by the high point of the previous trading day. The price of copper gradually declined and the dollar did not rise due to better GDP data. The transaction was oscillating. Yesterday, the LME copper inventories increased by 675 tons to 59.975 million tons, which was the first increase in inventory in the near future. The recent changes in the trend of the US dollar and copper inventories will become the main factors affecting copper prices. Yesterday, the domestic copper exhibited a strong rise again. In particular, in January, speculators set up long positions in January due to the possibility of a large number of settlements in the State Reserve in December, making the January contract increase significantly larger than yesterday. month. Yesterday, the domestic spot price was 31850~32,000 yuan/ton, and the operation should be based on the intraday short-term. Aluminium: LME March aluminum yesterday was affected by strong resistance at the top, showing a high level of volatility. Due to the previous highs, the pressure from above is also increasing. Short-term resistance is located in the price range of 1,860 to 1,880. The domestic Shanghai aluminum exhibited a strong upward trend again yesterday. However, the futures price failed to hit a new high. Since the aluminum market is not optimistic about the market outlook, the pressure on the market for profit taking is relatively high. At the same time, the market is not actively engaged in buying. This led to the fall of the afternoon price. In the short term, the resistance of the domestic Shanghai Aluminum 0502 contract is at the level of 16,130 yuan. Yesterday, the domestic spot price changed little, reported 15840 ~ 15870 yuan / ton. Ma Hongqing: Although the U.S. economic data released on Tuesday appeared extremely strong, copper prices did not accumulate any upside momentum. Instead, there was a large-scale sell-off near 3150. Strong US economic data, especially inflation data, made everyone feel that the Fed’s pace of raising interest rates again is approaching. This will increase the financing costs for traders who control global copper stocks to earn high premiums, and it will also be used by downstream consumer companies. Therefore, the price of more than 3,000 copper can withstand, the key is that the financing cost of the enterprise has a significant decline compared with previous years, and the Fed will raise the interest rate will make a fundamental change in this situation, of course, this change will not suddenly Fully presented, but it is certain that further high prices will not be possible. It should be noted that for the copper demand and supply companies in the past 10 years, the cost changes are very small. The technical chart shows that if the 3150 could not stand up this week and declare the high point of 3177 as the final high of the current bull market cycle, and the 3020 break will confirm this. It is expected that LME copper price will test the support level of 3080 or even 3050 on Wednesday, and the pressure lies at 3100/3120. Correspondingly, the domestic copper CU502 will test the 28800 support level, with further support at 28500, pressure at 29000, followed by 29200. It is recommended that investors hold a short position established above 29,000 and consider adding or throwing after breaking 28500. Overseas Express: LME Market Report: London, November 30 News: The London Metal Exchange (LME) base metals mostly closed lower on Tuesday as the US dollar rebounded against the euro from a record low. A trader said, "Only blame the metal downturn. Yuhui. As the dollar rebounded, some long positions settled and pulled down most metals. "At 1718 GMT, the dollar rebounded against the euro to 1.3265/68 US dollars and earlier fell to 1.3334. Analysts and traders said that the metal period is about December may be under pressure due to profit settlement, but think it will not fall significantly. He said, "The fund's long position is not that much, so the selling pressure before the end of the year may not be very fierce." "Maybe even There was a push for higher prices to cover up the books.” The three-month copper was at US$3,095 per tonne, which was lower than Monday’s composite transaction closing price of 3,112. Three-month aluminum fell by US$7 to 1,840 per tonne. Traders said. On the same day, the three-month copper market of LME fluctuated within a narrow range of 3,087.50-3,139 USD/ton, and the transaction was light. Analysts said that due to tax factors, some companies are reluctant to hold copper stocks at the end of the year. On Tuesday, LME copper stocks increased by 675 tons, but tensions in recent months remained the same. The spot/three-month reverse price spread remained stable at 140/145 US dollars. Analysts and traders said that stocks appear to be low, but the market looks more balanced. . A trader said that as many as 100,000 tons of copper from Kazakhstan are held in the hands of traders, but the copper is not deliverable on the LME. SempraMetals analysts said, "It can be said that there is no shortage of copper for two or three months." "China Demand has been sluggish, and the region’s copper premium has recently declined.” LME’s three-month aluminum futures traded within the range of US$1,833-1,860/ton on the 30th, with an upper resistance level of 1,860 US$. Three-month nickel rose 10 US dollars to 14,260 yuan per ton. Three-month zinc fell from an 8-week high, and producers took the opportunity to profit-taking, at US$1,171 per ton, down 4. The three-month tin reported 8,750, down 60. The three-month lead reported 951 per tonne, down 10. COMEX copper market report: New York, November 30 news: The New York Mercantile Exchange (COMEX) copper on the 30th for the first time in four trading days fell record, investors worried that high energy costs may slow down the market for basic metal demand. Copper prices have risen by as much as 37% since 2004, mostly reflecting the expansion of demand in China and the United States. International crude oil prices fell back after touching $50 on the 30th, while copper stocks on the London Stock Exchange increased for the first time. Fundamental metals analysts said that the negative impact of high oil prices is even more than the negative impact of the increase in the number of inventories, but in general these two factors are unfavorable to copper prices, if the oil prices continue to maintain high-end range, it is expected that market demand will further slow down. COMEX 3 month copper closed down 0.65 cents or 0.5% to 1.434 US dollars. After the US Department of Commerce revised the US GDP growth rate to 3.9% in the third quarter, the copper price once responded to the fundamentals bullishness.

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