Shanghai aluminum shock rose slightly, and the market procurement performance was flat

Market focus: (1) The cumulative number of confirmed cases of the global new crown epidemic exceeded 8.
89 million, and the number of new confirmed cases exceeded 120,000 per day, and the fear of the second wave of the epidemic intensified
.
(2) Msteel data, as of June 19, the inventory of China's electrolytic aluminum enterprises was 146,000 tons, a weekly decrease of 5,000 tons, a continuous decline of 12 weeks
.
(3) In 2019, the total output of electrolytic aluminum in major Asian countries (excluding China) was about 5.
18 million tons, accounting for 8.
1%
of the total global output.
Among them, India's output is 3.
74 million tons, ranking first
in Asia.

Spot analysis: On June 22, spot A00 aluminum was reported at 13940-13980 yuan / ton, with an average price of 13960 yuan / ton, a daily increase of 50 yuan / ton
.
A large household purchases more batches and plans to purchase nearly 20,000 tons during the day, the cargo holder is actively shipping to it, the two sides are actively trading, with the late 10:30 aluminum rise is large, and the large household acquisition is close to the end, the holder's quotation is rising and the price is firm, the middleman is very active in receiving goods within the day, because it is close to the end of the long order delivery month, the willingness to receive goods increases, resulting in a slight increase
in the late stage of premium.
The downstream intraday spot procurement performance was flat, mainly normal replenishment, and no signs
of pre-holiday stocking have yet been shown.

Warehouse receipt inventory: the total number of Shanghai aluminum warehouse receipts on Monday was 93,623 tons, a daily decrease of 2,306 tons; On June 19, LME aluminum stocks were 1605625 tons, down 4,675 tons
per day.
As of the week of June 19, the Shanghai aluminum inventory in the previous period was reported 238703 tons, a weekly decrease of 9,759 tons, a decline of 13 consecutive weeks
.

Main positions: the top 20 long positions of Shanghai aluminum main 2008 contract were 89038 lots, a daily increase of 6096 lots, short positions 111505 lots, a daily increase of 6826 lots, a net short position of 22467 lots, a daily increase of 730 lots, long and short increases, net space increased
.

On June 22, the main force of Shanghai aluminum in 2008 first fell and then rose
.
Increased fears of a second outbreak of the global epidemic, coupled with the Sino-Indian border conflict, have increased market risk aversion; At the same time, overseas downstream demand has been greatly affected by the epidemic, and the strong supply and demand are weak, and the trend of aluminum inventory accumulation is weak; And the opening of China's import window will stimulate overseas imports, and the pressure on aluminum prices has increased
.
However, domestic downstream demand continues to perform strongly, leading Shanghai aluminum inventories to continue to degrade, short-term supply tightness continues, aluminum prices still have upward momentum
.
In terms of spot, a large household purchased a large batch and planned to purchase nearly 20,000 tons, the holder actively shipped to it, the middleman received the goods very actively, and the downstream intraday spot procurement performance was flat
.