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Trade Service
Monday coincided with the UK Spring Bank Holiday, and the LME market was closed without data updates, and trading resumed on Tuesday, June 1
.
The main 2107 contract of Shanghai aluminum fluctuated to the upside, with a maximum of 19020 yuan / ton, a minimum of 18565 yuan / ton, and a close of 18825 yuan / ton, up 95 yuan / ton from the closing price of the previous trading day; The trading volume was 394,000 lots, an increase of 56,467 lots per day, and the position was 210172 lots, a decrease of 2,597 lots
per day.
basis - 45 yuan/ton; Shanghai aluminum 2106-2107 month price difference -35 yuan / ton
.
Market focus: (1) The PCE price index in the United States rose 3.
6% year-on-year in April, 3.
5% expected, and 2.
3% in the previous month; The core PCE price index rose 3.
1% year-on-year, hitting a new high since July 1992, expected 2.
9%, and 1.
8% in the previous month; The core PCE price index rose 0.
7% month-on-month in April, the highest since October 2001, and 0.
6% expected and 0.
4%
prior.
(2) The export volume of electrolytic aluminum in major regions of China (2021/5/23-2021/5/30) was about 145,000 tons, a decrease of 16,000 tons
from the previous period.
The inventory statistics of 6063 aluminum rods in China's main market (21.
5.
27-21.
5.
31) were about 104,500 tons, a decrease of 08,500 tons
from the previous period.
Spot analysis: On May 31, spot A00 aluminum was reported at 18760-18800 yuan / ton, with an average price of 18780 yuan / ton, down 40 yuan
per day.
Holders are reluctant to sell, the willingness to purchase is low, the enthusiasm of large households to receive goods is acceptable, and the transaction activity is average
.
Warehouse receipt inventory: the total of Shanghai aluminum warehouse receipts on Monday was 128708 tons, down 13,177 tons from the previous trading day; On May 28, LME stocks stood at 1,718,300 tonnes, down 5,775 tonnes
per day.
Main positions: the top 20 long positions of Shanghai's main 2107 contract held 140116 lots, minus 559 lots per day, 122390 short positions, 798 lots per day, 17726 net long positions, 2260 daily losses, long and short and net short were reduced
.
Market research: The previously released US core PCE price index in April recorded 3.
1% year-on-year, a new high
since 1992.
Inflation data far exceeded the Fed's 2% target, helping the dollar rise as high as 90.
44
intraday.
However, then the decline in US Treasury yields dragged the dollar back
from its highs.
The intraday market fluctuated greatly, the holders actively shipped, the receiver purchased a small amount at the low, and the transaction of low-priced sources in the range was acceptable
.
In terms of inventory, electrolytic aluminum shipments fell slightly last week, with Wuxi, Foshan and Gongyi areas seeing the most obvious
declines.
In addition, aluminum rod inventories have risen, and there are still downward adjustments
of different magnitudes in consumption areas.
Downstream wait-and-see is the mainstay, rarely receive goods, and the overall transaction is average
.
Technically, the main 2107 contract day MACD indicator of Shanghai aluminum shows a narrowing of the green kinetic energy column, focusing on moving average support
.
