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On Tuesday, the main 2201 contract of Shanghai aluminum fluctuated widely, with the highest 19350 yuan / ton, the lowest 18965 yuan / ton, closing at 19110 yuan, up 0.
05% from the closing price of the previous trading day; LME aluminum fluctuated at a low level, as of 15:00 Beijing time, 3-month Lun aluminum was reported at 2679 US dollars / ton, up 0.
38%
from the previous trading day.
Market focus: (1) According to the International Aluminum Association, global primary aluminum production in October 2021 was 5,689 thousand tons, compared with 5,617 thousand tons in the same period last year, a year-on-year increase of 1.
28%.
From January to October, global primary aluminum production reached 56,295 thousand tons, compared with 54,121 thousand tons in the same period last year, an increase of 4.
02%
year-on-year.
Spot analysis: SMM spot A00 aluminum reported 19150-19190 yuan / ton, the average price was 19170 yuan / ton, up 250 yuan
from the previous trading day.
Warehouse receipt inventory: Shanghai aluminum warehouse receipt 206650 tons, daily increase of 2979 tons; LME aluminum inventory was 935,750 tons, a daily decrease of 7,375 tons
.
Main positions: the top 20 long positions of Shanghai aluminum 2201 contract 135916 lots, -4157 lots, short positions 129790 lots, -2604 lots, net long positions 6126 lots, -987 lots
.
Market research: Powell was nominated for a second term as chairman of the Federal Reserve, and high inflation data and hawkish signals from the Fed boosted the strong operation of the dollar index, which will continue to suppress aluminum prices, pay attention to the US and European November manufacturing PMI data
.
In the recent stage, the reduction of aluminum production and the resumption of production are parallel, but the reduction in production caused by power rationing and dual control of energy consumption is still greater than the resumption of production in the month, and the phenomenon of production reduction and shutdown in various production areas, Lüliang alumina enterprises will carry out peak shifting production in autumn and winter, and the supply of production areas will be disrupted
again.
At the same time, the latest data electrolytic aluminum destocked again, superimposed on real estate policies ushered in favorable and coal trend stabilized, boosting market sentiment, and it is expected that short-term aluminum prices will fluctuate widely
.
