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On Tuesday, the main 2012 contract of Shanghai aluminum fell slightly, with the highest 14890 yuan / ton and the lowest 14730 yuan / ton within the day, closing at 14760 yuan / ton, down 0.
44% from the previous trading day; As of 15:00 Beijing time, 3-month Lun Aluminum was reported at 1869.
5 US dollars / ton, down 0.
08%
on a daily basis.
Market focus: (1) On Tuesday, local time, the US election will usher in voting day, and the voting results
are expected in the evening.
(2) Caixin's October China's manufacturing PMI data rose to 53.
6, the highest level
since February 2011.
(3) Indonesia Sita Mining successfully obtained a new bauxite export quota of about 4 million tons on October 20, and they obtained two quotas in the past year, totaling about
7 million tons.
Spot analysis: On November 3, spot A00 aluminum was reported at 15130-15170 yuan / ton, with an average price of 15150 yuan / ton, a daily increase of 100 yuan / ton
.
Yangtze River Nonferrous Metal reported that the enthusiasm of cargo holders to ship is not reduced, the enthusiasm of large households to receive goods is general, and the downstream is afraid of a small amount of purchase, and the overall transaction is quiet
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 91,874 tons on Tuesday, a daily decrease of 251 tons; On November 2, LME aluminum stocks were 1461025 tons, down 1,900 tons
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 2012 contract are 72244 lots, minus 1608 lots per day, short positions are 84778 lots, daily minus 101 lots, net short positions are 12534 lots, daily increase of 1507 lots, long and short are reduced, and net space increases
.
Market research and judgment: On November 3, the main force of Shanghai aluminum in 2012 fell slightly
.
China's Caixin manufacturing PMI data for October performed strongly, boosting market confidence, while the US dollar index was weak on the upside amid continued easing by the Federal Reserve; Domestic demand performance is acceptable, aluminum companies are gradually rising, and stimulating a large inflow of overseas goods, and the recent inventory in both markets has declined, aluminum prices are strong
.
However, the new production capacity of domestic electrolytic aluminum is also gradually released, and the high profits of aluminum plants have also stimulated the release of idle production capacity, and the pressure on aluminum prices has gradually increased
.
Technically, the main 2012 contract shadow of Shanghai aluminum is still dominant, and it is expected that the short-term will be strong
.
