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Early assessment of aluminum in December 21st

[Reuters] cable overnight outside the aluminum market rebound, outperformed the other base metals, including 3 month LME aluminum closed up 0.94% to 1725 U.S. dollars / ton, the LME aluminum but not completely below the high oscillation platform lasted nearly seven weeks, technical performance better than the other basic metal and aluminum, the under the technical support about 1700 U.S. dollars / ton.  

Industry information: according to the International Aluminum Association data show that in November this year, the world’s original aluminum production was 2 million 113 thousand tons, the chain fell by 56 thousand tons, of which China’s original aluminum production chain increased by 73 thousand tons.  

Market: December 20th Shanghai turnover concentrated 12720-12740 yuan / ton, the premium 70-80 yuan / ton, Wuxi turnover concentrated 12720-12740 yuan / ton, Hangzhou turnover concentrated 12730-12760 yuan / ton. Holding the goods continue to control the goods very price attitude, recently fell continuously, downstream enterprises have received preliminary arrangements for the production of delayed orders, receiving the intent to ascend the middleman bargain pick-up is positive, the overall turnover than last active. Backwardation stability delay spot decline.  

Inventory: as of December 20th, LME reported 2109450 tons of aluminum inventories, reduced 2825 tons; over the same period, the aluminum stock reported 96196 tons, 9534 tons of Zhou Juzeng, far lower than the year average inventory of 200 thousand tons, a September 28, 2007 lows.  

Overnight Shanghai aluminum main oscillation rebounded to 12790 yuan / ton, short-term aluminum prices continued to fall, facing technical support below. While aluminum prices fell or forced domestic aluminum prices together price. The operation should be cautious, suggested that the 1702 Shanghai aluminum contract back 12600 yuan above bargain, admission reference near 12700 yuan, 12900 yuan target.  

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