17th aluminum price is expected to fall
Comprehensive market analysis: On the previous trading day, the average price of non-ferrous aluminum in the Yangtze River fell by 30 to 13,300, and the average price of non-ferrous aluminum in the South China Sea fell by 30 to 13,810. Shanghai aluminum spot monthly contract 1501 opened 13390, the highest 13390, the lowest 13265, closed at 13270, down 120 or 0.90%. Lun Aluminum 3 opened at 1927.50, the highest was 1932.00, the lowest was 1900.50, closing at 1911.00, down 16.00 or 0.83%. The US dollar index opened at 88.48, the highest at 88.51, the lowest at 87.63, closing at 87.92, up 0.57 or 0.64%. LME aluminum stocks decreased by 9,950 tons to 4,272,100 tons. In the previous period, the aluminum warehouse receipts decreased by 802 tons to 77,936 tons.
News: 1. German central bank governor Wei Deman: Germany's inflation rate may fall to below zero in the next few months. Inflation falling below zero does not directly mean deflation. For current policy strategies, the goal of the balance sheet is not wise. There is no “great disagreement” between the ECB Administrative Committee. The private equity bond QE is less legal than the QE bond. There is no need for the European Central Bank to expand monetary stimulus. Even if oil prices fall, causing deflation, the acquisition of sovereign debt will not solve the problem.
2. The initial value of the manufacturing PMI for the Eurozone in December was 50.8, a five-month high, with an expected 50.5 and a previous value of 50.1. In the Eurozone, the initial PMI for services in December was 51.9, with an expected 51.5 and a previous value of 51.1. The initial PMI for the Eurozone in December was 51.7, with an expected 51.5 and a previous value of 51.1.
3, Germany's December manufacturing PMI initial value of 51.2, a two-month high, expected 50.3, the previous value of 49.5. Germany's service industry PMI in December was 51.4, a 17-month low, with an expected 52.5 and a previous value of 52.1. Germany's comprehensive PMI in December was 51.4, a new 18-month low, with an expected 52.3 and a previous value of 51.7.
4. The total number of construction permits in the United States in November was 1.035 million, with an expected 1.065 million, and the previous value was revised from 1.08 million to 1.092 million. US construction permits in November were -5.2%, the largest drop since January 2014, expected -2.5%, the previous value was revised from +4.8% to +5.9%. ,
5. In the United States, the total number of new housing starts in November was 1.028 million, with an expected 1.04 million, and the previous value was revised from 1.09 million to 1.045 million. In the United States, the annual housing starts in November were -1.6%, expected to be +3.1%, and the previous value was revised from -2.8% to +1.7%. Today's aluminum price analysis:
The ruble fell again overnight, causing market panic. Crude oil, the US dollar and the base metals collectively plummeted and gold rose. Lun aluminum continued to fall down to 1900, and Shanghai Aluminum followed a rapid decline. Today's aluminum prices are expected to fall for reference only.