Demand margin weakened, and the main force of Shanghai aluminum fluctuated at a low level

Market focus: (1) China 6063 aluminum rod spot inventory (10,000 tons): Foshan 5.
75, Wuxi 1.
8, Nanchang 2.
5, Changzhou 1.
3, Huzhou 1.
45, Chengdu 0.
2, Gongyi 0.
4, Luoyang 0, total 13.
4, up 0.
15
from this Monday (July 5).

Spot analysis, spot A00 aluminum reported 18820-18840 yuan / ton, the average price was 18820 yuan / ton, down 20 yuan
daily.
The holder was unable to support the price, the receiver continued to buy at a low price, the enthusiasm of large households to receive the goods was average, and the overall transaction was not good
.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 72245 tons, an increase of 2877 tons per day; LME stocks were 1,517,200 tonnes, down 9,075 tonnes
per day.

Main positions: the top 20 long positions of the main 2108 contract of Shanghai aluminum held 132095 lots, minus 2720 lots per day, short positions 125604 lots, decreased 4992 lots per day, and net long positions were 6491 lots, an increase of 2633 lots
per day.
Long and short decrease, net increase
increase.

Market research and judgment: Shanghai aluminum 2018 contract opened low and volatile
.
The dollar index edged higher
on Wednesday, according to the minutes released by the Fed, which showed that Fed members raised their expectations for economic growth and inflation, with the prevailing view that the pressure would ease in the coming months, although inflation would surge to 3.
4% this year.
Recently, the supply in Yunnan has recovered, and the operating capacity is expected
to increase marginally.
In addition, with the arrival of the off-season of consumption, the marginal demand weakened, the downstream aluminum rod processing fee weakened, and the inventory of aluminum rod also increased
.