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On Tuesday, February 11, LME aluminum was hindered to the upside, as of 15:00 Beijing time, 3-month Lun aluminum was reported at 1717.
5 US dollars / ton, up 0.
62%
per day.
The main 2003 contract of Shanghai aluminum rushed back to the high, with the highest 13840 yuan / ton and the lowest 13680 yuan / ton within the day, closing at 13780 yuan / ton, up 0.
47% from the closing price of the previous trading day; The trading volume was 48198 lots, an increase of 16145 lots per day; The position was 88973 lots, an increase of 272 lots
per day.
The basis was expanded to -40 yuan/ton; The price difference between Shanghai aluminum in 2003-2004 widened to 25 yuan / ton
.
Market focus: (1) New confirmed cases in non-Hubei areas fell
for 7 consecutive days.
Spot analysis: On February 11, spot A00 aluminum was reported at 13720-13760 yuan / ton, with an average price of 13740 yuan / ton, a daily increase of 140 yuan / ton
.
Intraday traders are still active in trading, and there are still more receivers than shippers, but the two sides are relatively deadlocked in transaction prices, and the actual transaction is average
.
The downstream performance was calm during the day, and the performance of Hangzhou was particularly light
among the three regions.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 119776 tons on Tuesday, a daily increase of 6,930 tons, an increase of 9 consecutive days; On February 10, LME aluminum stocks were 1,229,700 tons, down 13,250 tons
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 2003 contract were 63314 lots, a daily increase of 1715 lots, short positions were 67375 lots, a daily increase of 2648 lots, a net short position of 4061 lots, a daily increase of 933 lots, long and short increased, and net space increased
.
Market research and judgment: On February 11, the main force of Shanghai aluminum 2003 rushed back to the high
.
As of the 10th, the number of new confirmed cases in China's non-Hubei region has fallen for seven consecutive days, domestic enterprises have begun to enter a state of resumption of work, and the economy is expected to pick up, which has improved market worries and supported aluminum prices
.
However, the US dollar continued to rise with strong recent employment data and no significant progress in the UK-EU negotiations; And affected by the epidemic, the resumption of work of downstream aluminum enterprises has been greatly affected, which will affect downstream demand; At the same time, the domestic electrolytic aluminum inventory shows an upward trend, coupled with the expectation of future production capacity, the inventory pressure is large, and the upward momentum of aluminum prices is weak
.
In terms of spot, intraday traders are trading actively, and there are still more receivers than shippers, but the two sides are relatively deadlocked in transaction prices, and the actual transaction is average
.
The downstream performance was calm during the day, and the performance of Hangzhou was particularly light
among the three regions.
Technically, the main 2003 contract of Shanghai aluminum increased its position, and the daily KDJ indicator golden cross is expected to be strong in short-term volatility
.
