The main force of Shanghai aluminum fluctuated and fell, and it is expected that the short-term operation will stabilize

Market focus: (1) After the emergence of a variant of the new crown virus in the UK, more than 58,000 new cases were added on the 4th local time, a new one-day high
.
British Prime Minister Boris Johnson announced England's third nationwide lockdown until at least mid-February
.

Spot analysis: On January 5, spot A00 aluminum was reported at 15670-15710 yuan / ton, with an average price of 15690 yuan / ton, a daily increase of 100 yuan / ton
.
Yangtze River Nonferrous Metal reported that the circulation of goods has improved, the holders are actively shipping, the downstream on-demand procurement is the mainstay, and the enthusiasm of large households to receive goods is general
.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 64,778 tons on Tuesday, a daily decrease of 25 tons, down for 4 consecutive days; On January 4, LME aluminum stocks were 1340525 tons, down 5,275 tons per day, down for 7 consecutive days
.

Main positions: the top 20 long positions of Shanghai aluminum main 2102 contract are 66007 lots, a daily increase of 925 lots, short positions are 79535 lots, a daily increase of 1196 lots, a net short position of 13528 lots, a daily increase of 271 lots, long and short increases, and net space increases
.

Market research and judgment: Shanghai aluminum 2102 fluctuated and fell
on January 5.
The UK announced a third global lockdown until mid-February, and the possibility of the epidemic continuing to worsen into the winter has increased weighing on market risk sentiment; However, the dollar index continued to be weak
in anticipation of the US maintaining accommodative monetary policy.
The high production profits of aluminum enterprises will stimulate the accelerated launch of electrolytic aluminum production capacity and put long-term pressure
on aluminum prices.
The polluted weather in the north has caused some aluminum companies to stop production and limit production, and downstream demand has weakened, but aluminum prices have recently fallen to a low level, market procurement has picked up, and Shanghai aluminum inventories have declined slightly; At present, the domestic electrolytic aluminum production capacity is slow, so that the inventory is still at a low level, supporting the stabilization of aluminum prices
.
Technically, the increase in the position of the main 2102 contract of Shanghai aluminum continues to adjust, and the daily KDJ golden cross signs that it is expected to stabilize in
the short term.