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On Tuesday, the main 2108 contract of Shanghai aluminum opened low and went low, the highest 19150 yuan / ton, the lowest 18955 yuan / ton, the close of 19075 yuan / ton, down 1.
52 from the previous trading day; LME aluminum shock recovery, as of 15:00 Beijing time, 3-month Lun aluminum reported 2436 US dollars / ton, up 0.
66%
from the previous trading day.
Market focus: According to Mysteel statistics, the inventory statistics of electrolytic aluminum in China's main markets (7.
15-7.
19) are about 821,000 tons, a decrease of 03,000 tons
from the previous period.
The inventory statistics of 6063 aluminum rods in China's main market (7.
15-7.
19) were about 139,000 tons, an increase of 06,500 tons
over the previous period's data.
Spot analysis: SMM spot A00 aluminum reported 19020-19060 yuan / ton, the average price was 19040 yuan / ton, down 80 yuan
per day.
Changjiang Nonferrous Metal reported that the holders actively shipped, the middlemen took advantage of the low, the enthusiasm of large households to receive goods was general, and the overall transaction was
acceptable.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 88,040 tons, with a daily increase of 1,497 tons; LME stocks were 1440350 tonnes, down 8,975 tonnes
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 2108 contract held 100243 lots, minus 15531 lots per day, 100408 short positions per day, minus 16063 lots per day, net short positions 165 lots, minus 778 lots
per day.
Both bulls and headroom are reduced
.
Market research and judgment: Shanghai aluminum 2018 contract opened low and went
low.
The US dollar index strengthened overnight, hitting a new high
in nearly four months, due to the recent mutation of the epidemic, lower stock markets, and falling yields.
In addition, the domestic development and reform commission threw a "reassuring pill": bulk commodities gradually returned to a reasonable range, and said that it continued to carry out copper, aluminum and zinc reserves in batches, severely cracked down on price gouging, hoarding and other behaviors, and aluminum prices were under pressure
.
Fundamentals, the current aluminum ingot inventory has not fully entered the accumulation cycle, and the overall transaction has improved compared with last week
.
The aluminum rod showed a small accumulation, mainly due to the weak downstream orders and the high aluminum base price, the terminal fear of heights, and the overall transaction was flat
.
Overall, the current aluminum consumption has signs of weakening towards the off-season, but it has not fully entered the accumulation cycle, and it is necessary to continue to pay attention to the inflection point of
inventory.
