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On Thursday, the main 2103 contract of Shanghai aluminum rebounded at a low level, with a maximum of 15,040 yuan / ton and a minimum of 14,710 yuan / ton during the day, closing at 14,975 yuan / ton, up 1.
15% from the closing price of the previous trading day; In the external market, LME aluminum continued to rise, as of 15:00 Beijing time, 3-month Lun aluminum was reported at 1999.
5 US dollars / ton, up 0.
55%
per day.
Market focus: (1) Biden was officially sworn in as the 46th US president, and the market expects the Biden administration to increase stimulus measures to cope with the economic impact
of the pandemic.
(2) Alumina production in December 2020 was 6.
13 million tons, an increase of 3.
2%
year-on-year.
(3) International Aluminium Association, global primary aluminum production increased to 5.
67 million tons in December 2020, a year-on-year increase of 4.
22%, and the average daily output was 182,900 tons/day, a slight decrease of 0.
33% month-on-month; Among them, China's production is estimated at 3.
28 million tons.
Spot analysis: On January 21, spot A00 aluminum reported 15000-15040 yuan / ton, the average price was 15020 yuan / ton, up 270 yuan / ton
per day.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 82,270 tons on Thursday, a daily decrease of 4,739 tons; On January 20, LME aluminum stocks were 1417050 tons, an increase of 2,375 tons per day, an increase of 4 consecutive days
.
Main positions: the top 20 long positions of Shanghai aluminum main 2103 contract are 96788 lots, a daily increase of 7143 lots, short positions are 112339 lots, a daily increase of 9544 lots, a net short position of 15551 lots, a daily increase of 2401 lots, both long and short increases, and net space increases
.
At the end of the year, downstream demand turned weak, and spot premiums weakened, making aluminum prices lack upward momentum
.
However, Lun aluminum inventory continues to deteriorate, import arbitrage window closed, will inhibit the inflow of overseas sources, and aluminum prices have fallen and market transactions have improved slightly.
Technically, the main 2103 contract of Shanghai aluminum increased its position at a low level, and there was support at the 14700 position below, and it is expected that the short-term low level will be adjusted
.
