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LME aluminum fluctuated low on Wednesday, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $1788 / ton, up 0.
28%
per day.
Shanghai aluminum main 1910 contract shock adjustment, the highest intraday 14380 yuan / ton, the lowest 14280 yuan / ton, the close of 14335 yuan / ton, up 0.
00% from the previous trading day's closing price; The trading volume was 160,200 lots, a daily decrease of 46,596 lots, and the position was 363,300 lots, an increase of 11,622 lots
per day.
The basis was expanded to -15 yuan/ton; The price difference between Shanghai aluminum in 1910 and 1911 widened to 35 yuan / ton
.
Market focus: At 2:00 a.
m.
Beijing time on Thursday, the U.
S.
Federal Open Market Committee (FOMC) will release the minutes of its July 30-31 policy meeting
.
Global primary aluminum production was revised to 5.
405 million mt in July versus 5.
275 million mt in June, compared with 2.
973 million mt in June, while China's primary aluminium production was estimated at 3.
05 million mt in July and revised to 2.
973 million mt
in June, IAI data showed on Tuesday.
Australian Archer today announced the discovery of a High Purity Alumina (EPHPA) project with resource reserves of between 55 million and 130 million tonnes and a taste of 33% to 36%.
Spot analysis: On August 21, the spot A00 aluminum quotation was 14300-14340 yuan / ton, and the average price was 14320 yuan / ton, down 60 yuan / ton
from the previous trading day.
The supply of goods in the intraday market is tight, the cargo holders do not ship much, and they are slightly reluctant to sell at a high price, so they do not ship a large amount to a large household, the middleman receives the goods actively, and there are obviously more receivers than shippers in the market, and the transaction between the two sides is slightly
deadlocked.
Due to the decline in spot prices and the strong optimism of the market on the future, downstream manufacturers began to show obvious purchasing intentions, and the receiving status improved compared with the previous two days
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 148422 tons on Wednesday, a daily decrease of 986 tons; On August 20, LME aluminum stocks were 955025 tons, a daily decrease of 7,325 tons
.
Main positions: the top 20 long positions of the main 1910 contract of Shanghai aluminum are 114920 lots, an increase of 7414 lots per day, 131979 short positions, a daily increase of 5208 lots, a net short position of 17059 lots, a daily decrease of 2206 lots, more short increases, net space decreases
.
On August 21, the main 1910 contract of Shanghai aluminum was adjusted
in shock.
The Federal Reserve will release the minutes in the evening, the US dollar index is volatile, putting pressure on aluminum prices, but the upstream alumina production reduction has stabilized the price, and the midstream electrolytic aluminum inventory continues to deteriorate, the downstream aluminum rod inventory has declined, and the price has rebounded, which is positive for aluminum prices
.
In terms of spot, the market supply is tight, the holders do not ship much, slightly reluctant to sell at a high price, and the middleman is active
in receiving goods.
Due to the decline in spot prices, coupled with the market's optimism about the future market, downstream manufacturers began to show obvious purchasing intentions
.
Technically, the main 1910 contract of Shanghai aluminum is doji, focusing on the support of the 14200 position below, and it is expected that the short-term shock will be strong
.
