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On Wednesday, the main 2111 contract of Shanghai aluminum fluctuated strongly, with the highest 23200 yuan / ton, the lowest 22665 yuan / ton, and the closing 22820 yuan / ton, up 0.
84% from the previous trading day's closing price; LME aluminum fluctuated operation, as of 15:00 Beijing time, 3-month Lun aluminum was reported at 2919 US dollars / ton, down 0.
43%
from the previous trading day.
Market focus: (1) Analysis of China's aluminum plate and foil export data in August 2021: According to data released by the General Administration of Customs of China, China's aluminum strip export volume at the end of August 2021 was 259,000 tons, down 1.
30% month-on-month and up 42.
70%
year-on-year.
China's aluminum foil exports at the end of August were 115,400 tons, up 19.
34% month-on-month and 14.
03%
year-on-year.
(2) Fed Bullard: The US economy is expected to grow by 5.
8%
in 2021.
It could reach 4.
5%
in 2022.
Spot analysis: SMM spot A00 aluminum reported 22800-22840 yuan / ton, the average price was 22820 yuan / ton, up 330 yuan
daily.
Warehouse receipt inventory: Shanghai aluminum warehouse receipt total 99164 tons, daily increase of 3313; LME aluminium stocks were 1248625 tonnes, down 7,825 tonnes
per day.
Main positions: the top 20 long positions in the main 2111 contract of Shanghai aluminum held 172986 lots, with a daily increase of 2914 lots, a short position of 181777 lots, a daily increase of 2275 lots, a net short position of 8791 lots, a daily decrease of 1417 lots, a long and short increase, and a net short decrease
.
Market research: The Senate failed to pass the debt ceiling suspension bill, the debt ceiling risk rose, and Powell said that the taper condition is almost met now, and the U.
S.
Treasury yield and the dollar strengthened
.
Domestically, the current dual control of domestic energy consumption continues to ferment, power restrictions and production restrictions in production areas impose weights, and aluminum market supply continues to contract, which supports aluminum prices
.
However, the latest data shows that the inventory of electrolytic aluminum and aluminum rod has accumulated, mainly due to the limited downstream acceptance of high aluminum prices, and the limited power production and downstream demand, and the overall purchase willingness is weak, resulting in an increase
in inventory.
At the same time, the State Reserve Bureau will release the fourth batch of reserve aluminum 70,000 tons in the near future, and the National Day long holiday is approaching, and the funds are in hedging demand, and the aluminum price is under pressure
.
