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On Wednesday, the main 2110 contract of Shanghai aluminum rebounded low, with the highest 22640 yuan / ton, the lowest 21920 yuan / ton, and the closing 22495 yuan / ton, down 1.
25% from the previous trading day's closing price; LME aluminum fluctuated higher, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $2876 / ton, up 1.
57%
from the previous trading day.
Market focus: (1) Daily satellite tracking - as of the current port of Guinea, the port bauxite ship entry and shipment situation is normal, the loading time is within the normal range, the port condition is good, and Mysteel spatial data has not detected abnormalities
.
(2) Statistics on the operating rate of national recycled aluminum alloy ingot enterprises in August 2021: According to the survey of Mysteel aluminum team, the operating rate of national recycled aluminum alloy ingot enterprises in August 2021 was 46%, down 11.
54% year-on-year and 9.
8%
month-on-month.
(3) Data released by the US Department of Labor showed that the US CPI rose by 0.
3% month-on-month in August, lower than the data in June and July, and lower than the previous expectation of 0.
4%.
Spot analysis: spot A00 aluminum reported 22220-22260 yuan / ton, the average price was 22240 yuan / ton, down 650 yuan
daily.
Seeing the continued downward sentiment is not good, the holders turned to actively adjust prices and shipments, the receiving party was bearish and wait-and-see, the trading atmosphere was weak, and the overall market transaction performance was average
.
Warehouse receipt inventory: the total amount of Shanghai aluminum warehouse receipts is 102087 tons, with a daily increase of 2299 tons; LME stocks were 1,299,900 tonnes, down 3,600 tonnes
per day.
Main positions: the top 20 longs of the main 2110 contract of Shanghai aluminum held 95841 lots, minus 9120 lots per day, short positions 106134 lots, minus 15825 lots per day, net short positions 10293 lots, daily minus 4492 lots, long short and net short both reduced
.
Market research and judgment: The inflation rate in the United States last month was lower than expected, increasing the uncertainty of the timing of the Fed's tapering of asset purchases, and the US index was under
pressure.
Recently, the dual control of energy consumption in many places in China has had a continuous impact on the production of electrolytic aluminum, and supply disturbances have formed a futures price support
.
However, the latest data shows that domestic electrolytic aluminum continues to accumulate, high aluminum prices suppress downstream consumption obviously, and downstream enterprise starts continue to be suppressed
.
Technically, the AL2110 contract day MACD indicator DIFF and DEA are crossing below the 0 axis, focusing on the 22000 line of support
.
