On Thursday, the main 2109 contract of Shanghai aluminum ran in shocks, the highest 20190 yuan / ton, the lowest 20055 yuan / ton, and the close of 20090 yuan / ton, down 0.
12% from the closing price of the previous trading day; LME aluminum fluctuated operation, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $2588 / ton, up 0.
from the previous session.
Market focus: (1) Fed Kaplan: The Fed still expects inflationary pressures to expand into next year; The CPI data is in line with
the Fed's outlook.
(2) As of August 12, according to Mysteel statistics, China's electrolytic aluminum social inventory was 738,000 tons, an increase of 14,000 tons from this Monday (9th), and 733,000 tons
in the same period last year.
Spot analysis: SMM spot A00 aluminum reported 20000-20040 yuan / ton, the average price was 20020 yuan / ton, down 60 yuan
The receiver actively purchases at the dip, the holder has a certain willingness to raise the price, the enthusiasm of the large household to receive the goods is general, and the overall transaction activity is average
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 88,820 tons, a daily decrease of 101 tons; LME stocks were 1333575 tonnes, down 6,650 tonnes
Main positions: the top 20 long positions of the main 2109 contract of Shanghai aluminum held 157287 lots, minus 4536 lots per day, short positions 156066 lots, minus 1468 lots per day, net long positions 1221 lots, daily minus 2579 lots
Both long and short space and headroom increased
Market research and judgment: Although the US CPI data is still at a high level, the core CPI is less than market expectations, coupled with the recent outbreak of the US epidemic again, the market's expectations for the Fed to accelerate the contraction of QE cooled, the US dollar index plunged intraday, and recently paid attention to the number of
initial jobless claims in the United States that week.
The recent high coal prices and insufficient power supply have formed a strong support
for the Shanghai aluminum futures price.
In addition, the latest data shows that the current aluminum market has accumulated slightly, and Wuxi, Foshan, Shanghai, Haian, and Chongqing have contributed to the increase, of which Foshan has the largest increase in inventory, mainly due to the increase in arrivals and the general performance of consumption out of the warehouse
Inventory in Wuxi increased slightly, and there were more local arrivals this week, but the transaction was preferred compared with other regions, and the overall performance of outbound goods was acceptable
Overall, short-term aluminum prices or high runs