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LME aluminum is closed on
Monday.
The main 2010 contract of Shanghai aluminum opened high and went low, with the highest 14690 yuan / ton and the lowest 14480 yuan / ton within the day, closing at 14540 yuan / ton, down 0.
45% from the closing price of the previous trading day; The trading volume was 98204 lots, and the daily decrease was 4350 lots; The position was 118362 lots, and the daily decrease was 2275 lots
.
basis 220 yuan/ton; The price difference between Shanghai aluminum in 2010-2011 was 160 yuan / ton
.
Market focus: (1) China's manufacturing PMI index in August was 51, lower than the previous value of 51.
1; the service PMI index was 55.
2, higher than the previous value of 54.
2
.
(2) According to Mysteel data, as of August 31, the inventory of electrolytic aluminum in China's main market was 749,000 tons, a weekly decrease of 11,000 tons
.
Spot analysis: On August 31, spot A00 aluminum was reported at 14740-14780 yuan / ton, with an average price of 14760 yuan / ton, a daily increase of 80 yuan / ton
.
Warehouse receipt inventory: the total number of Shanghai aluminum warehouse receipts on Monday was 128843 tons, a daily decrease of 2867 tons; On August 28, LME aluminum stocks were 1554375 tons, down 4,925 tons
per day.
As of the week of August 28, the previous period of Shanghai aluminum inventory reported 251037 tons, a weekly increase of 4137 tons
.
The main position, the top 20 long positions of Shanghai aluminum main 2010 contract were 70819 lots, minus 1418 lots, short positions were 85178 lots, daily minus 2125 lots, net short positions were 14359 lots, daily minus 707 lots, long and short were reduced, and net space was reduced
.
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 Fed released dovish information, which made the US index weak; At the same time, the upstream Alunrote alumina plant reduced production, and alumina prices have recently recovered slightly; Moreover, the current electrolytic aluminum inventory is still at a low level, and the import window is initially closed to inhibit the entry of overseas sources; Coupled with the gradual recovery of the automotive industry, the overall performance of downstream demand is acceptable, the recent increase in aluminum rod processing fees, aluminum rod inventory has declined, which supports aluminum prices
.
Technically, the main 2010 contract of Shanghai aluminum maintains range operation, and the daily KDJ indicator is dead-crossed, and short-term shock adjustment
is expected.
