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LME aluminum fell slightly on Monday, and as of 15:05 Beijing time, the 3-month Lun aluminum was reported at $1803.
5 / ton, down 0.
22%
on the day.
The main 1912 contract of Shanghai aluminum fell back to a high level, with the highest 14060 yuan / ton and the lowest 13895 yuan / ton within the day, closing at 13895 yuan / ton, down 0.
96% from the closing price of the previous trading day; The trading volume was 99,100 lots, a daily decrease of 31,228 lots, and the position was 198,100 lots, a daily decrease of 8,102 lots
.
The basis was expanded to 205 yuan/ton; The price difference between Shanghai and aluminum from 1912 to 2001 narrowed to 85 yuan / ton
.
Market focus: Data from the University of Michigan on Friday showed that consumer confidence rose to 95.
7
in early November from 95.
5 in October.
Spot analysis: On November 11, the spot A00 aluminum quotation was 14080-14120 yuan / ton, the average price was 14100 yuan / ton, and the daily decline was 130 yuan / ton
.
The price of aluminum fell back, and the willingness of holders to ship increased, but the receiver tended to buy at a low price, and the trading performance of the two sides was deadlocked, and the actual transaction was average
.
Downstream manufacturers basically maintain on-demand procurement, and the willingness to replenish on Monday is not obvious
.
Warehouse receipt inventory: the total number of Shanghai aluminum warehouse receipts on Monday was 59,680 tons, a daily decrease of 1,074 tons, a continuous decline of 18 days; On November 8, LME aluminum stocks were 943175 tons, a daily decrease of 2,300 tons, and a decline of 18 consecutive days
.
As of the week of November 8, the aluminum inventory of the Shanghai Futures Exchange was 276659 tons, a weekly decrease of 2,077 tons, a decline of four consecutive weeks
.
Main positions: the top 20 long positions of the main 1912 contract of Shanghai aluminum are 63626 lots, minus 1797 lots per day, 76559 short positions, 4243 lots per day, 12933 net short positions, 2446 hands per day, long and short are reduced, and net space is reduced
.
On November 11, the main force of Shanghai aluminum fell back to the high of 1912
.
The US dollar index continued to be strong, the upstream alumina price rally slowed down, due to the considerable production profit at the end of the year electrolytic aluminum production capacity launch speed, coupled with the slowdown in global economic growth, downstream demand performance is weak, pressure on aluminum prices increased, and the optimistic news of Sino-US trade negotiations partially repaired the risk sentiment of the market, while the current electrolytic aluminum inventory continues to deteriorate, there is still some support
for aluminum prices.
In terms of spot, the willingness of holders to ship has increased, but the receivers tend to buy at a low price, the trading performance of the two sides is deadlocked, the actual transaction is general, the downstream manufacturers basically maintain the state of on-demand procurement, and the willingness to replenish on Monday is not obvious
.
Technically, the main 1912 contract daily KDJ indicator of Shanghai aluminum has a dead cross, and the mainstream long position is closed large, and the short-term shock is expected to be weak
.
