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On Thursday, the main 2010 contract of Shanghai aluminum fell under pressure, with the highest 14710 yuan / ton and the lowest 14530 yuan / ton within the day, closing at 14555 yuan / ton, down 0.
75% from the closing price of the previous trading day; In the external market, LME aluminum fluctuated slightly, as of 15:00 Beijing time, 3-month Lun aluminum reported 1781 US dollars / ton, up 0.
28%
per day.
Market Focus: (1) The Jackson Hole Global Central Bank Annual Meeting will be held from August 27 to 29, and Fed Chairman Jerome Powell will deliver a speech
entitled "Monetary Policy Framework Review".
(2) The weekly decline of domestic electrolytic aluminum social inventory was 07,000 tons to 755,000 tons, and the difference between regional inventory increases and decreases was prominent
.
(3) The inventory of aluminum rods decreased by 03,800 tons from last Thursday to 56,200 tons, and the outbound storage can still be reduced
.
Spot analysis, on August 27, spot A00 aluminum reported 14710-14750 yuan / ton, the average price was 14730 yuan / ton, down 40 yuan / ton
daily.
Warehouse receipt inventory, Shanghai aluminum warehouse receipts totaled 134347 tons on Thursday, a daily decrease of 1178 tons; On August 26, LME aluminum stocks were 1,563,300 tons, a daily decrease of 4,075 tons
.
The main position, the top 20 long positions of Shanghai aluminum main 2010 contract were 68372 lots, a daily increase of 1171 lots, short positions were 81597 lots, a daily increase of 636 lots, a net short position of 13225 lots, a daily increase of 535 lots, both long and short increases, and the net space decreased
.
Market research and judgment: On August 27, the main force of Shanghai aluminum fell under pressure in 2010
.
Rising tensions between China and the United States, intensifying the game between the two sides, making the market risk sentiment cautious; At the same time, the domestic electrolytic aluminum production capacity has gradually recovered, the operating rate of producers is rising, and the rapid rise in import supply has increased the pressure on aluminum prices
.
However, the upstream Alunrote alumina plant reduced production, and alumina prices have recently recovered slightly; At present, the current electrolytic aluminum inventory is still at a low level overall, and the import window is initially closed to inhibit the entry of overseas sources; Coupled with the recent increase in aluminum rod processing fees, aluminum rod inventories remain low, which supports aluminum prices
.
Technically, the mainstream long position of the main 2010 contract of Shanghai aluminum increased its position greatly, focusing on the support of the 14450 position, and it is expected that the short-term high adjustment
.
