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LME aluminum rebounded slightly on Tuesday, and as of 15:00 Beijing time, 3-month Lun aluminum was reported at $1742 / ton, up 0.
32%
on a daily basis.
The main 2001 contract of Shanghai aluminum opened low and fluctuated, with the highest 13,780 yuan / ton and the lowest 13,730 yuan / ton during the day, closing at 13,740 yuan / ton, down 0.
40% from the closing price of the previous trading day; The trading volume was 91296 lots, an increase of 23054 lots per day; The position was 233,900 lots, a daily decrease of 90 lots
.
The basis was expanded to 220 yuan/ton; The price difference between Shanghai aluminum from 1912 to 2001 widened to 90 yuan / ton
.
Market focus: US President Donald Trump recently tweeted that he told Fed Chairman Jerome Powell at a meeting on Monday morning local time that the interest rate set by the Fed is too high relative to other countries
.
Ruhut revealed that the Indonesian government is considering speeding up the introduction of export bans
on bauxite and other minerals such as tin and alumina.
Under current regulations, bauxite is allowed to be exported until February 11
, 2022.
Spot analysis: On November 19, the spot A00 aluminum quotation was 13940-13980 yuan / ton, the average price was 13960 yuan / ton, and the daily increase was 20 yuan / ton
.
During the day, some of the large market households received goods, the holders were more active in shipments, the willingness of middlemen to receive goods was also more obvious, and the buyers and sellers traded actively
.
Because the price has remained relatively stable for nearly a week, and although the downstream has been waiting for a long time, the demand at the production end is still there, and the downstream receiving state is acceptable
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 92,139 tons on Tuesday, a daily decrease of 51 tons; On November 18, LME aluminum stocks were 1156250 tons, an increase of 91,075 tons per day, an increase of 5 consecutive days
.
Main positions: the top 20 long positions of Shanghai aluminum main 2001 contract were 72329 lots, minus 2233 lots per day, short positions were 83455 lots, daily minus 1279 lots, net short positions were 11126 lots, daily increase of 954 lots, long and short were reduced, and net space increased
.
On November 19, the main force of Shanghai aluminum 2001 opened
low.
The lack of substantive news about the Sino-US trade agreement cooled the market optimism, while upstream alumina inventories increased, prices fell, and electrolytic aluminum production expectations put pressure on aluminum prices, but the UK has Brexit optimism impact, coupled with Trump's bombardment of the Federal Reserve again, putting pressure on the dollar, the current electrolytic aluminum inventory is still in the stage of decomposition, downstream aluminum rod production has rebounded significantly, supporting aluminum prices
。 In terms of spot, some of the large market households receive goods, the holders are more active in shipments, the willingness of middlemen to receive goods is also more obvious, buyers and sellers are actively trading, and although the downstream has been waiting for a long time, the demand at the production end is still there, and the downstream receiving state is acceptable
.
Technically, the main 2001 contract daily MACD green column contraction of Shanghai aluminum, mainstream short position reduction is large, and short-term volatility is expected to be strong
.
