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On Tuesday, the main 2109 contract of Shanghai aluminum opened low and rebounded, with the highest 19970 yuan / ton, the lowest 19755 yuan / ton, and the close at 19950 yuan / ton, up 0.
15% from the closing price of the previous trading day; LME aluminum fluctuated in a narrow range, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $2564 / ton, up 0.
39%
from the previous session.
Market Focus: (1) Fed Rosengren: The Fed should announce in September that it will start reducing purchases of U.
S.
Treasuries and mortgage loans
this fall.
(2) As of August 9, according to Mysteel statistics, China's electrolytic aluminum social inventory was 724,000 tons, a decrease of 8,000 tons last Thursday (5th), and 731,000 tons
in the same period last year.
Spot analysis: SMM spot A00 aluminum reported 19850-19890 yuan / ton, the average price was 19870 yuan / ton, down 20 yuan
per day.
Some of the holders are shipped at a high price, the receiver replenishes the goods on demand, the enthusiasm of large households to receive goods is general, and the transaction status is acceptable
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 89,118 tons, a daily decrease of 199 tons; LME stocks were 1,339,100 tonnes, down 6,750 tonnes
per day.
Main positions: the top 20 long positions of Shanghai aluminum 2109 contract held 150999 lots, minus 2322 lots per day, short positions 147315 lots, a daily decrease of 4943 lots, net long positions of 3684 lots, a daily increase of 1066 lots
.
Long and short decrease, net increase
increase.
Market research and judgment: After the non-agricultural beautiful data, many Fed officials made hawkish speeches, and the Fed's expectation of tapering QE heated up again, boosting the dollar index, while Shanghai aluminum performance was relatively resistant
.
Recently, the nationwide power shortage has not been alleviated, and the power rationing has been further upgraded
.
At the same time, the nationwide power supply shortage problem has also had a certain impact on downstream aluminum rods and processing enterprises, but it is expected to have a longer
impact on the supply side.
In addition, the latest data shows that the current aluminum market continues to destock, and the inflection point of accumulation continues to move
backward.
Recently
, attention has been paid to the suppression of aluminum prices by the macro supply and price stabilization policy.
