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On Tuesday, the main 2105 contract of Shanghai aluminum fell slightly, with the highest 17490 yuan / ton and the lowest 17295 yuan / ton within the day, closing at 17345 yuan / ton, down 0.
34% from the previous trading day's closing price; The trading volume was 176344 lots, with a daily decrease of 95476 lots; As of 15:00 Beijing time, 3-month Lun aluminum was reported at 2261.
5 US dollars / ton, down 0.
53%
per day.
Market focus: (1) US President Joe Biden is expected to announce his large-scale infrastructure plan
on Wednesday local time.
The plan was initially thought to be $3 trillion in size, but could now reach $4 trillion and include a $3.
5 trillion tax
increase, according to The Washington Post.
Spot analysis: On March 30, spot A00 aluminum was reported at 17320-17360 yuan / ton, with an average price of 17340 yuan / ton, down 50 yuan / ton
per day.
Yangtze River Nonferrous Metal reported that the holders shipped at a high price, the downstream consumption of existing inventory was the mainstay, the replenishment action was not obvious, the market trading atmosphere was general, and the spot transaction performance was light
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 155598 tons on Tuesday, a daily decrease of 377 tons, down 10 consecutive days; On March 29, LME aluminum stocks were 1917075 tons, a daily decrease of 8,925 tons, a decline of 6 consecutive days
.
Main positions: the top 20 long positions of Shanghai aluminum main 2105 contract 136823 lots, a daily decrease of 3955 lots, short positions of 146038 lots, a daily decrease of 788 lots, a net short position of 9215 lots, a daily increase of 3167 lots, long and short decreases, net space increases
.
Market research and judgment: Shanghai aluminum 2105 fell
slightly on March 30.
US President Joe Biden is expected to unveil a large-scale infrastructure plan to support the economic recovery, and the dollar index continues to be strong due to concerns about a margin default by a hedge fund
.
There is news that the National Reserve Bank plans to collect aluminum ingots before selling, raising concerns about increased supply; At present, the speed of domestic production capacity launch is slow, and the dual control policy of energy consumption in Baotou in Inner Mongolia also affects
output.
And the recent decline in aluminum ingot inventory has expanded, downstream demand has shown signs of recovery, demand prospects are optimistic, and aluminum prices have stabilized
.
Technically, the mainstream long position of the main 2105 contract of Shanghai aluminum has reduced its position significantly, and the triangular convergence trend is expected to adjust at a high level in the future
.
