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Yesterday's Shanghai aluminum main 2201 contract opened at 18985 yuan / ton in the morning, fluctuating and falling throughout the day, the intraday high was 19035 yuan / ton, bottoming out at 18610 yuan / ton, and the short position reduction market rose slightly at the end of the day, and finally closed at 18710 yuan / ton
.
It was down 85 yuan / ton, or 0.
45%,
from yesterday's end.
Affected by the news that the premier said on Friday that he would cut the RRR in a timely manner and increase support for the real economy, especially small and medium-sized enterprises, Shanghai aluminum moved strongly
overnight.
And since then, the RRR reduction has been cashed out
.
However, Shanghai aluminum fell slightly in early trading, and the trading center returned to about 18,850 yuan / ton, but the absolute price of spot rose by 90 yuan / ton from last Friday, and the actual spot was still around 50 yuan / ton for the month
.
Yesterday, the market transaction was more active, the national aluminum ingot social inventory was 24,000 tons compared with last Thursday, the discount was relatively firm, and the actual market transaction price was around
18,760 yuan / ton.
Fundamentally, the supply-side increment is limited, it is difficult to have a large-scale resumption of production in the short term, and the northern region may further tighten in the future due to the double-limit policy and the approach of the Winter Olympics
.
On the cost side, with the recent decline in alumina prices, the losses of electrolytic aluminum smelting enterprises have eased, and the production of some enterprises has returned to the break-even line, and it is necessary to pay attention to the subsequent downward strength of electricity prices
.
Holders on the consumer side ship goods at high prices, and receivers purchase at low prices on demand, and the market transaction is not good
.
In the near future, the demand for downstream replenishment orders is acceptable, and the consumption side has improved in stages, but it is necessary to be vigilant that downstream processing enterprises will limit production
again due to environmental protection requirements in the heating season and the Winter Olympics.
In terms of inventory, the latest inventory data shows that the domestic aluminum ingot social warehouse is destocked, because the outbound strength is acceptable, Wuxi and the South China Sea region contributed mainly to the decline
.
In terms of price, the current domestic electrolytic aluminum market long and short contradiction is relatively mild, need to be vigilant in the face of macro and news in the face of market sentiment disturbance
.
