Construction Information (09.30): 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 the new price closing may be less than 2% from the new price closing. ☆ ☆ The reverse price range from the new price closing may be greater than 2%. ☆☆☆ The period price is reversed from the new closing price. 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: The second-quarter GDP released by the United States was revised up to an annual rate of 3.3%, exceeding the previous market expectation of 2.8%, which stimulated the copper price to rise sharply, compared with the final income of US$3010/ Tonnes have risen by 75 U.S. dollars per ton from the previous trading day, and the fluctuations ranged from 3015 to 2922 U.S. dollars per ton. Yesterday, the LME copper stocks were reduced by 450 tons to 93.835 million tons. The second-quarter GDP data released by the United States yesterday caused the original investors to predict that the U.S. economic growth will slow down in 2004, which greatly stimulated the fund’s further purchases. After the copper price broke through 2950 US dollars, the role of the short-covering disk further pushed up copper prices. From a graphical standpoint, the resistance above the copper price is located at 3050 US dollars. Due to the upcoming 10.1 long holiday in China, the trading volume has already shrunk to a greater extent yesterday. Due to the 10.1 holiday break and 5 trading days, there is a certain uncontrollable risk. It is recommended that investors short the holiday. Yesterday, the spot price once again rose, reported 30900 ~ 31000 yuan / ton. Aluminium: LME March aluminum was affected by the sharp rise in copper prices yesterday, showing a slight increase. However, market rumors that LME Singapore's aluminum inventories will increase by 40,000 tons in October will still have an impact on aluminum prices, resulting in a much smaller increase than copper. Yesterday, domestic aluminum prices in Shanghai fluctuated within a narrow range and the trading volume shrank. The main contract contract closed at 16,920 yuan/ton in December, down by 100 yuan/ton from the previous trading day. The recent aluminum price may be 16950~16850. The range is oscillating. The spot price of domestic aluminum changed little yesterday and was 16770~16800 yuan/ton. Ma Hongqing: Copper: LME copper prices hit a new high of 5 and a half months in Wednesday's trading. The price is approaching the 3,000-point mark, and the spot premium is once again magnified to 100 US dollars. The strong fundamentals of the US economy have stimulated interest in buying, but for the current In terms of the price of copper, there is already a lack of investment value, and speculation that follows the trend can still be tried. Due to the early launch of the fund in the October contract, the declaration of the October option period during the National Day holiday is particularly significant. Since we cannot grasp the specific data of the option, we cannot judge the fund to pass the option. How many long positions have been hedged, but next Wednesday's transaction will be very important in any case, and in the face of domestic National Day holiday, the fund launched the first to force cross-market arbitrage out of the suspect, so for the long holiday period of copper prices appear to trend It is harder to judge. However, in terms of pure charts, the support level of the CU501 has been moved to the 28,000 line. Investors can still consider taking this loss as long as they hold long positions. Aluminium: LME aluminum prices rallied to an integer of 1,800 in Wednesday's trading, and 1780 once again showed good support. The sharp increase in zinc showed that investors began to really worry about the future inflation situation, and the domestic aluminum spot market began to There have been few tensions in recent years. Technically, it shows that during the short-term consolidation of aluminum in the short-term after the rapid Masukura, once confirmed support at 1780/1800, the next goal will be directed at 1850 highs in recent years, followed by an integer mark of 2000. After the domestic AL 412 breaks above 17100, investors can consider further overweight and take the long position in the hands of the loss holder at 16,700. Overseas express delivery: LME market report: London September 29 news: boosted by US GDP data, the London Metal Exchange (LME) benchmark rose for 3 months on Wednesday, rising 2%. After the release of the US second-quarter GDP data, the benchmark three-month copper price broke through the resistance level of $2,950, followed by a short-term stop-loss stoppage to reach a six-month high of $2,996.50. According to the data released by the US Department of Commerce, the final GDP of the United States in the second quarter increased by 3.3% year-on-year, with an earlier estimate of 2.8%. The first quarter was 4.5%. This data reactivates the market and triggers fund buying. Earlier analysts had predicted that the pace of economic growth in the United States will slow in 2004. Dealers said that the fund buying activity was reactivated and the sell-off at the top was significantly reduced. It is expected that the upward trend will continue on the 30th. It is expected that the benchmark three-month copper price upward resistance will be 3,000 US dollars. If this point is broken, the next resistance level is 3,050 US dollars. Driven by fund buying, the benchmark nickel price rose by 3.4% over the three months to close at $14,900. The benchmark zinc price rose by 2.8% in three months and it hit a three-month high of $1,073 in the session. However, traders said that due to the lack of fundamental support, the zinc price increase was entirely driven by other base metal prices. COMEX Copper Market Report: NEW YORK, September 29: Technical factors triggered fund buying, and December copper prices on the New York Mercantile Exchange (COMEX) closed higher and set a new high of 139.60 cents. It was 136.20 cents lower and 139.60 cents higher throughout the day. December copper rose 2.35 cents to close at 139.30 cents. Traders said that intraday fund buying was active and the sell-off at the top eased. Analysts said that the drop in oil prices is one of the factors driving the increase in copper prices. The recent rise in oil prices has caused the market to worry that excessive energy prices will hinder economic growth and thus curb copper demand. According to the data released by the US Department of Commerce, the final GDP of the United States in the second quarter increased by 3.3% year-on-year, with an earlier estimate of 2.8%. Traders said that although the market has responded to this news earlier, it still has a certain stimulating effect on the current price of copper. On the 29th, the London Metal Exchange (LME) copper inventories fell by 450 metric tons to 93,825 metric tons. On the 28th, COMEX copper stocks fell 513 tons, to 50,269 short tons.

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