Construction Securities (4.08): 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-year closing price may be greater than 2%. ☆☆ ☆ The price range is reversed from the newer closing. The margin may be greater than 3%. ☆☆☆☆ The reverse run of the period from the newer closing may be greater than 4%. ☆☆☆☆☆ The reverse running range from the newer closing price may be greater than 5%. Copper and Aluminum Risk Warning: Bullish Risk :☆ Short-term risk: ☆ Tip: Eastern: Copper: Affected by the rebound factors of the U.S. dollar, LME copper in March showed a slight decline yesterday, but it is still in the original box, and it ended up at 3,274 US dollars/ton. The dollar fell by US$14/ton in one trading day and the fluctuation ranged from US$3,298 to US$3,270/tonne. LME copper inventories increased by 450 tons to 46,625 tons per day yesterday, a slight increase for the third consecutive day. In the foreign exchange market, the US dollar showed a trend of bottoming out yesterday, but it also put pressure on copper prices. Yesterday, domestic copper rose sharply again, it seems that temporarily out of the shackles of international copper prices, led by a spot wave of rapid growth in the direction of the contract alone, we believe that gradually closer to the point of closing, the Shanghai copper market, the main force more hair moved A wave of spot prices led by spot month rose. After two days of sharp increase, the spot price of the spot price has been almost the same as the domestic spot price of the same day. At the same time, the domestic Shanghai copper and foreign exchange prices are gradually recovering, which may limit the domestic copper price to sharply increase once again. Large, operation should be based on the short-term trading day. Yesterday, the domestic spot price rose again to 35150~35350 yuan/ton, and the operation was still mainly in the intraday short-term. Aluminium: Affected by the U.S. dollar, aluminum of LME on March showed a trend of a sharp decline yesterday, which closed at 1950.5 US dollars/ton compared with the last trading day. It fell 1 US dollar/ton from the previous trading day, and it failed to break through the 20-day moving average. In the short term, the resistance above the aluminum price is located at the 20-day moving average at 1960 US dollars. Yesterday, LME aluminum inventories rose by 550 tons to 54.265 million tons. Yesterday, the domestic Shanghai aluminum exhibited an uptrend of Masukura's heavy volume. From the volume point of view, there is a short-term scribbled fund intervention. It is possible that the aluminum price will be interpreted as the kind of 2 or 3 days before. The domestic spot price rose sharply to 16680 yesterday. ~16,700 yuan/ton. Operation should be based on short-term trading. Ma Hongqing: SHFE copper price once again rose strongly in yesterday's trading, but in the evening LME's trading did not follow this rhythm, and the dollar's rise again seems to bring some pressure, but today is the date when SHFE stocks are announced, so SHFE's response to LME It is of utmost importance that once the market confirms that the breakthrough from Wednesday is effective, it will be sooner or later that the LME copper price will further expand to a new high. And if the price falls, then the follow-up trend of the LME in the evening is very important. So keep a close watch on your current position. Overseas Express: LME Market Report: London, April 7: The London Metal Exchange (LME) copper approached record highs last week in light trading but nickel fell after a sharp rise on Wednesday. Gain. The three-month copper futures index closed up 5 US dollars to 3,290 US dollars per ton, close to the record high of 3,308 US dollars set last Thursday. "Like yesterday, most of today's trading was very light, with strong fundamentals. Support." Standard Chartered Bank analyst Baha said. He refers to the Shanghai market is relatively strong, and stocks decline. "People are once again trying to push up prices to exceed yesterday's closing levels." Adams, analyst at BaseMetals.com, said: " The main driving force seems to be the domestic supply and demand tension and concerns that the State Reserve Bureau will deliver its 10,000-ton bulls this month, which will force short-covering." "In the event of the downswing of the Shanghai Futures Exchange It seems that the bears are covering, rather than extending their short positions. Perhaps there will be a frantic rally, which will push the LME market to rise together.” Shanghai copper sharply higher and domestic spot market supply is tight. The April contract hit a record high before the end of the next weekend. Copper stocks on the Shanghai Futures Exchange fell by 5,136 tons last week to 16,327 tons. On Thursday, the spot April contract on the Shanghai Futures Exchange expanded to 1,420 yuan per ton compared to the May contract. Yuan renminbi ($171) was $1,350 on Wednesday. The May contract's premium over the June contract also increased from $950 to $1,090. The premium for LME spot copper over three-month copper was also earlier from 135/145 on Wednesday. The dollar expanded to $151/152. Other metals followed copper higher, but nickel suffered a profit, wiping away some of the $700 gain yesterday. Three-month aluminum rose $8 to $1,958 per ton, subject to market forces for energy The outlook for aluminum output after rising prices and concerns about China's power shortage support three-month zinc prices rising $7 to $1,373 and three-month lead prices rising $12 to $975. Three-month zinc prices rose $45. At US$8,120, three-month nickel fell by US$200 to 16,200. Nickel had previously been supported by rumors that China may increase nickel inventories. Since March 22, LME nickel stocks have fallen by more than 1,000 tons or 10% to 9,780 tons. COMEX Copper City Report: New York April 7 News: New York Copper futures exchanges (COMEX) closed slightly lower on Thursday, and the euro lifted pressure from the highs. However, traders said that the trading range is narrow and trading is light because most market players are waiting for further guidance. The five-month period has been fluctuating around the 1.45-1.51 range. Earlier, due to the weaker dollar, it rose above yesterday's high and met resistance at the high level.” said David Meger, metals analyst at AlaronTrading. It closed down 0.20 cents to 1.5065 US dollars per pound. The trading range was 1.50-1.55140 US dollars, which was the highest point in a week. The spot April contract fell 0.10 cents to 1.5215 US dollars, setting a contract high on Wednesday. The monthly contract ended 0.10 lower and rose by 1.25 cents. COMEX copper volume was estimated at 20,000 lots, compared to 16,267 lots Wednesday. The open interest increased by 3,201 lots to 122,891 contracts Wednesday. The dollar fell on Thursday and hit a week against the euro. The low point, as investors profited from the recent rally in the US dollar, and turned its attention to the forthcoming US trade balance data.

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