Construction Information (10.20): Copper and 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 run of the period from the newer closing may be greater than 5% Risk Warning: Bullish Risk: ☆☆ Short-term risk: ☆ Tips before the market: Orient: Copper: LME copper price rallied yesterday after a strike by workers at the La Caridad copper smelter in Mexico, crude oil prices fell, and the dollar weakened. However, the price of LME copper rebounded yesterday. However, it was blocked at 2840 US dollars and closed at 2805. US dollar / ton, compared with the previous day rose 22 US dollars / ton, fluctuations in the range of 2840 ~ 2773.5 US dollars / ton. Workers of the La Caridad copper mine smelter in Mexico went on strike yesterday. At the same time, Atlantic Metal Co. of Spain’s fourth quarter metal production was affected by the strike and reduced production, and a union spokesman said there will be at least 18 strikes in this month and next month. And the uncertainty of late strikes supported copper prices. However, from the graphical point of view, the current price of copper can only be determined as a relay drop in the decline, and the trend of copper prices in the later period is still not optimistic. Yesterday, the domestic copper exhibited a trend of quickly bottoming after opening lower. In the short term, it gained strong support on the 60-day moving average. The recent copper price may show relatively large fluctuations. Spot price fell slightly yesterday, reported 28600 ~ 28,700 yuan / ton. Aluminium: Due to the increase in copper prices, LME also saw a rebound in aluminum prices yesterday. China's Shanghai Aluminum yesterday showed a trend of bottoming out. From the disk, there is obviously a large support at the 16,000 yuan line. Since the price of 16,000 yuan is not far from the current production cost of aluminum, short-term copy of the chassis and short covering The role of the plate made Shanghai Aluminum fluctuate upward. The domestic spot price quoted yesterday was 16050 to 16100 yuan/ton. Ma Hongqing: Affected by the depreciation of the US dollar, LME copper prices maintained a volatile pattern on Tuesday, with the price rising from the Far East's decline, but the pressure level on the 2850 line is still strong. The spot premium is still maintained at a level of around US$80. It has not been further amplified with the rise in copper prices, indicating that spot prices are under pressure from above 2900. The kinetic indicators show that the copper price is unlikely to increase further, and indicators reflecting its future trend indicate that the copper price will fall into a short-term market, with the fluctuation range at 2780/2850 or further amplification to 2750/2870. A new survey by Merrill Lynch shows that global investment institutions are becoming pessimistic about economic growth next year. The relatively new economic data shows that the pressure of US inflation is increasing. The real estate bubble after the UK interest rate hike is bursting. Once the United States raises interest rates, it will likely follow the footsteps of Britain. The scale of US real estate is much larger than that of Britain. . In order to maintain the current prosperity of the economy means that inflation must be controlled, this is clearly a potential negative for commodity prices at historically high levels. Given that the spot market of the copper market is still tight, the possibility of a recurring fall in copper prices in the short term is unlikely, and the probability of maintaining a gradual decline in the market is relatively large. At the same time we are still looking at the copper market as a whole, we still need to remind investment. Fundamental differences between the internal and external disk are still there, and when dealing with short-selling, it is necessary to treat base transactions with caution. Shanghai CU CU501 is expected to remain within the range of 26,500/26,800 on Wednesday, suggesting that investors hold a small amount of bearish positions. Overseas express delivery: LME market report: London October 19 news: Tuesday, the London Metal Exchange (LME) base metal futures prices mostly closed higher, but suppressed by profit-taking, or limited. Dealers said that after a sharp decline last week, investors are now cautious and it will take time for market confidence to recover. Although individual European and American producers currently have labor disputes, especially in the copper and aluminum industries, due to heavy selling pressure on various contracts, the increase has been limited. The benchmark three-month copper price received strong support under $2,800, but the resistance is relatively high at $2,840 and there is a lack of sustained upward momentum. Due to low market participation, it is expected that it will continue to oscillate in the near term in the short term. Freeport-McMoRan Copper & Gold Inc. stated that its low-grade copper ore production at its Grasberg copper mine fell 31.5% from July to September. At the same time, it also announced that its subsidiary, Atlantic Copper, has reduced its metal production in Spain due to the impact of the strike. The strike at the smelter in the La Caridad copper mine in Mexico is still in progress. It is expected that the benchmark copper price upward resistance for the three-month period will be 2840-2850 USD. Under the pressure of profit-taking, the benchmark three-month lead price closed lower, but the support at 820 US dollars was stronger. The three-month benchmark nickel price rose slightly, with support at $13,000. COMEX Copper Market Report: NEW YORK, October 19: News on the New York Mercantile Exchange (COMEX) December copper rose by 1.30 cents to 129.70 cents on Tuesday on the back of a drop in oil prices and a strike boost. It was 128 cents lower and 130.80 cents higher throughout the day. Analysts said that the fall in energy prices will provide some support to the price of copper, and the strike of copper producers has also become a driving force for price increases. A strike at the La Caridad copper mine smelter in Mexico is under way. In the fourth quarter, Spain’s AtlanticCopper’s metal production fell due to strikes. And a union spokesman said there will be at least 18 strikes this month and next month. Traders said that the uncertainty of the labor strike still exists. At the same time, after a sharp decline last week, investors are now cautious and it will take time for market confidence to recover. Therefore, it is expected that the possibility of maintaining oscillation in the short term is greater. Analysts said that from the technical picture, if the rebound returns to the downtrend after the rebound, December copper will likely fall below 110 cents. We expect December copper price support to fall by 127 cents and 125 cents, with upward resistance at 130 cents and 131 cents. On the 19th, LME copper stocks fell by 625 metric tons to 86,900 metric tons. On the 18th, COMEX copper stocks increased by 243 short tons to 45,761 short tons.