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On Tuesday, the main 2006 contract of Shanghai aluminum fluctuated upward, with the highest 12515 yuan / ton and the lowest 12360 yuan / ton within the day, closing at 12485 yuan / ton, up 0.
60% from the previous trading day's closing price; In the external market, LME aluminum encountered obstacles to the upside, as of 15:00 Beijing time, 3-month Lun aluminum was reported at 1509 US dollars / ton, up 0.
13%
per day.
Market focus: (1) The global crude oil storage space is exhausted, and the US crude oil price fell below the $12 mark
.
(2) China's bauxite imports in March were 10.
006 million tons, an increase of 10.
6% over the same period last year; Alumina imports 338653 tons; Scrap aluminum imports were 76,672 tons, down 39% year-on-year; Primary aluminum imports were 5,409 tons, a year-on-year increase of 35%.
Spot analysis: On April 28, spot A00 aluminum was reported at 12570-12610 yuan / ton, with an average price of 12590 yuan / ton, a daily increase of 80 yuan / ton
.
The morning market trading is more active, and there are many inquirers of receivers, but the enthusiasm of the market transaction in the later period has declined, and the actual transaction situation is not as good as in
the morning.
Downstream intraday on-demand procurement is the mainstay, due to the rise in aluminum prices and high premium, temporarily did not show active stocking intention
.
The overall transaction in East China was acceptable
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 229427 tons on Tuesday, a daily decrease of 6,787 tons, a 10-day decline; On April 27, LME aluminum stocks were 1336775 tons, an increase of 18,850 tons
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 2006 contract are 78415 lots, minus 2308 lots, short positions are 95378 lots, daily increase of 124 lots, net short positions are 16963 lots, daily increase of 2432 lots, more short increases, net space increases
.
The progress of domestic electrolytic aluminum plant inspection and repair production is slow, coupled with the recovery of downstream processing plant production, demand has improved, and the recent Shanghai aluminum inventory has continued to degrade and expand; In addition, Yunnan and Gansu plan to collect and store, which has boosted market confidence and strengthened support for aluminum prices
.
The impact of the global epidemic, downstream demand is still difficult to say optimistic, limiting the upward momentum
of aluminum prices.
In terms of spot, the morning market trading is more active, and there are many inquirers of receivers, but the enthusiasm of the later market has declined, and the downstream intraday on-demand procurement is the mainstay
.
Technically, the main 2006 contract of Shanghai aluminum tested the 12500 mark, but the mainstream short positions increased significantly, and it is expected to continue to rise
slightly in the short term.
Operationally, it is recommended that the Shanghai aluminum 2006 contract can be long around 12400 yuan / ton, and the stop loss is 12200 yuan / ton
.
