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On Tuesday, the main 2107 contract of Shanghai aluminum fluctuated at a low level, with the highest 18925 yuan / ton, the lowest 18650 yuan / ton, and the closing price of 18875 yuan / ton, up 55 yuan / ton from the closing price of the previous trading day; In the external market, LME aluminum fluctuated at a low level, as of 15:00 Beijing time, 3-month Lun aluminum was reported at 2504 US dollars / ton, down 0.
08%
on the day.
Market focus: (1) The US Ministry of Ecology and Environment issued the "Guiding Opinions on Strengthening the Prevention and Control of the Ecological Environment Source of High Energy Consumption and High Emission Construction Projects", which requires strict environmental impact assessment and approval
of "two highs" projects.
Petrochemical and modern coal chemical projects should be included in the national industrial planning
.
New construction, expansion of petrochemical, chemical, coking, non-ferrous metal smelting and flat glass projects shall be laid out in industrial parks
established in accordance with laws and regulations and subject to planning environmental impact assessments.
(2) Market news, some Japanese aluminum buyers have agreed to pay a global producer a premium of July to September shipping at a premium of $185 per tonne, which is 24%-25%
higher in the current quarter.
Spot analysis: On June 1, spot A00 aluminum was reported at 18690-18730 yuan / ton, with an average price of 18710 yuan / ton, down 70 yuan
per day.
Yangtze River Nonferrous Metal reported that the source of circulating goods was tightened, the holders shipped goods at high prices, the enthusiasm of large households to receive goods was acceptable, and the transaction performance was average
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 122981 tons on Tuesday, down 5,727 tons from the previous trading day; On May 31, LME stocks stood at 1,707,000 tonnes, minus 11,300 tonnes
per day.
Main positions: the top 20 long positions of Shanghai aluminum 2107 contract held 140469 lots, a daily increase of 353 lots, a short position of 125362 lots, a daily increase of 3068 lots, a net long position of 15107 lots, a daily decrease of 2619 lots, a long and short increase, a net short decrease
.
Market research: The market is currently focused on the non-farm payrolls data to be released on Friday, and if the labor market recovers strongly, it will boost the Fed's expectation of early QE tapering, which will boost the dollar
.
The overall good performance of aluminum prices has promoted the steady progress of the increase and resumption of electrolytic aluminum production, but the dual control of energy consumption in Inner Mongolia and the impact of power cuts in Yunnan continue to disrupt supply expectations, and the future market still needs to continue to pay attention to supply
adjustments.
Recently, the outbound volume of aluminum ingots and aluminum rods has weakened, and most of the receiving parties are purchasing on demand, the market buying is not strong, and the market trading has weakened
compared with before.
However, the peak season just needs to continue to destock, supporting the high consolidation of aluminum prices
.
Technically, the main 2107 contract day MACD indicator of Shanghai aluminum shows a narrowing of the green kinetic energy column, focusing on moving average support
.
