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On Wednesday, the main 2102 contract of Shanghai aluminum operated in shocks, with the highest 15825 yuan / ton and the lowest 15575 yuan / ton within the day, closing at 15705 yuan / ton, up 0.
32% from the closing price of the previous trading day; In terms of external trading, LME aluminum shock adjustment, as of 15:00 Beijing time, 3-month Lun aluminum was reported at 1992 US dollars / ton, down 0.
08%
per day.
Market focus: (1) U.
S.
President Donald Trump asked Congress to revise the protest bailout and government spending package, and he wants to increase stimulus spending from $600 to $2,000
.
(2) The annualized total of existing home sales in the United States fell 2.
5% month-on-month to 6.
69 million units in November, down from a 15-year high of 6.
86 million units set in the pre-October period
.
Spot analysis: On December 23, spot A00 aluminum was reported at 16040-16080 yuan / ton, with an average price of 16060 yuan / ton, down 290 yuan / ton
per day.
Yangtze River Nonferrous Metal reported that the market circulation of goods is tight, the holders are slightly reluctant to sell, the downstream bargain purchases, and the enthusiasm of large households to receive goods is average
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 67,333 tons on Wednesday, a daily decrease of 575 tons, a continuous decline of 27 days; On December 22, LME aluminum stocks were 1383725 tons, a daily decrease of 6,625 tons
.
Main positions: the top 20 long positions of Shanghai aluminum main 2102 contract are 60242 lots, a daily increase of 887 lots, short positions are 78603 lots, a daily increase of 366 lots, a net short position of 18361 lots, a daily decrease of 521 lots, long and short are increased, and the net space is reduced
.
Market research and judgment: Shanghai aluminum 2102 oscillation operation
on December 22.
The emergence of a more contagious variant of the coronavirus in the UK, the rapid deterioration of the epidemic and the possibility of wider spread, are raising concerns; At the same time, Trump's unexpected refusal to sign the bailout package made the stimulus policy encounter another twist and turn.
The recent polluted weather in the north has caused some aluminum companies to face production stoppages; And overseas demand is weak and the recent concentrated delivery of copper inventories, aluminum prices lack upward momentum
.
However, at present, the domestic electrolytic aluminum production capacity is not as expected, coupled with the good performance of downstream demand, Shanghai aluminum inventory maintains a low level of slight destocking, and there is support
below the aluminum price.
Technically, the main 2102 contract of Shanghai aluminum has stabilized its position, and the mainstream bulls have increased their positions more and are expected to recover slightly in the short term
.
