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    Home > Chemicals Industry > New Chemical Materials > The main force of Shanghai aluminum rose sharply, and the market trading atmosphere was weak

    The main force of Shanghai aluminum rose sharply, and the market trading atmosphere was weak

    • Last Update: 2022-12-22
    • Source: Internet
    • Author: User
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    On Tuesday, the main 2110 contract of Shanghai aluminum rose sharply, with a maximum of 20,510 yuan / ton, a minimum of 20,305 yuan / ton, and a close of 20,425 yuan / ton, up 0.
    59% from the closing price of the previous trading day; LME aluminum fluctuated to the upside, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $2608 / ton, up 0.
    56%
    from the previous session.

    Shanghai aluminum

    Market focus: (1) As of August 23, according to Mysteel statistics, China's electrolytic aluminum social inventory was 744,000 tons, unchanged from last Thursday (19th), and 749,000 tons
    in the same period last year.
    (2) The preliminary Markit manufacturing PMI in the United States in August was 61.
    2, 62.
    8 expected, and 63.
    4
    previously.

    Spot analysis: SMM spot A00 aluminum reported 20390-20430 yuan / ton, the average price was 20410 yuan / ton, up 50 yuan
    per day.
    The market liquidity gradually widened, the holders actively shipped, the receiver stopped and watched, the trading atmosphere was weak, and the overall transaction was not satisfactory
    .

    Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 80,652 tons, a daily decrease of 2,788 tons; LME stocks were 1295125 tonnes, down 5,125 tonnes
    per day.

    Main positions: the top 20 long positions of Shanghai aluminum 2110 contract held 191349 lots, an increase of 11758 lots per day, 183635 short positions, a daily increase of 10827 lots, and a net long position of 7714 lots, a daily increase of 2548 lots
    .
    Both long and short and net long increased
    .

    Market analysis: Poor US PMI data coupled with investors' expectations that the recovery of global growth and global low-carbon demand will drive demand, market risk sentiment has improved, and the US dollar has declined
    .
    Watch for Fed Chairman Jerome Powell's debt reduction statement at the annual meeting of global central banks on August 26
    .
    At present, the fundamentals of the aluminum market are still strong, the supply-side disturbance continues, and the dual control of energy consumption in Ningxia is fermenting again, stimulating the bullish sentiment
    of the aluminum market.
    In addition, the latest data shows that the current period of electrolytic aluminum social inventory is flat compared with last Thursday, and it is necessary to continue to pay attention to the impact
    of the arrival of consumption places on short-term inventory fluctuations.
    Short-term aluminum prices may run
    strongly.

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