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As of 15:00 Beijing time, the 3-month Lun aluminum was reported at $1742.
5 / ton, down 0.
06%
on a daily basis.
The main 2001 contract of Shanghai aluminum fell slightly, with the highest 13865 yuan / ton and the lowest 13820 yuan / ton within the day, closing at 13855 yuan / ton, down 0.
07% from the closing price of the previous trading day; The trading volume was 76718 lots, and the daily decrease was 64372 lots; The position was 211,200 lots, a daily decrease of 4,226 lots
.
The basis was reduced to 195 yuan/ton; The price difference between Shanghai aluminum from 1912 to 2001 remained at 100 yuan / ton
.
Market Focus: (1) It is reported that China has invited senior U.
S.
trade negotiators to conduct a new round of face-to-face negotiations in Beijing, and the two sides are still working to reach an agreement
.
(2) In October, China's recycled aluminum alloy manufacturers sold about 348,000 tons, down 1.
76% month-on-month and up 5.
9%
year-on-year.
Spot analysis: On November 22, spot A00 aluminum was reported at 14030-14070 yuan / ton, with an average price of 14050 yuan / ton, down 40 yuan / ton
per day.
Shanghai and Wuxi markets due to the high spot price, holders of shipments are very positive, but middlemen tend to receive goods at low prices, more than less spot premium then falls, traders trading is more general, downstream manufacturers Friday a small amount of stock, but in view of the high price is difficult to recognize, the amount of goods received is not much
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 78,033 tons on Friday, a daily decrease of 6,807 tons; On November 21, LME aluminum stocks were 1170675 tons, an increase of 1,150 tons per day, an increase of 8 consecutive days
.
As of the week ended November 22, aluminum inventories on the Shanghai Futures Exchange were 270787 tons, down 10,848 tons
.
Main positions: the top 20 long positions of Shanghai aluminum main 2001 contract were 66426 lots, minus 1348 lots per day, 75663 short positions were held daily, minus 1043 lots per day, net short positions were 9237 lots, a daily increase of 305 lots, long and short were reduced, and net space increased
.
Market research and judgment: On November 22, the main force of Shanghai aluminum in 2001 fell slightly
.
The dollar index continues to run strongly, Sino-US trade negotiations news continues to emerge, but there is a lack of substantive news that can reach an agreement, market caution is strong, while upstream alumina production has rebounded, prices have fallen, putting pressure on aluminum prices, but the current electrolytic aluminum spot inventory and aluminum rod inventory have continued to decline, supporting aluminum prices
.
In terms of spot, the Shanghai and Wuxi markets are very active in shipments due to higher spot prices, but middlemen tend to receive goods at low prices, and downstream manufacturers stock up on Friday, but in view of the high price is difficult to recognize, the amount of goods received is not much
.
Technically, the Shanghai aluminum main 2001 contract high long lower shadow black line, trading volume declined, is expected to be weak
short-term volatility.
