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On Thursday, the main 2112 contract of Shanghai aluminum operated weakly, with the highest 23,620 yuan / ton, the lowest 22,725 yuan / ton, closing at 22,910 yuan, down 2.
30% from the closing price of the previous trading day; LME aluminum fluctuated down, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $3,065 / ton, down 1.
01%
from the previous trading day.
Market focus: (1) According to the General Administration of Customs of China, China imported a total of 8.
3407 million tons of bauxite in September 2021, a decrease of 4.
13% month-on-month and a year-on-year decrease of 0.
3%, recording a year-on-year decline for the sixth consecutive month
.
In terms of countries, Australia imported 3.
0284 million tons, an increase of 8.
85% month-on-month and a year-on-year decrease of 10.
34%; Guinea imported 3.
9569 million tons, down 9.
28% month-on-month and up 36.
83% year-on-year; Indonesia imported 1.
3554 million tons, down 12.
92% month-on-month and 15.
14%
year-on-year.
Spot analysis: SMM spot A00 aluminum reported 23320-23360 yuan / ton, the average price was 23340 yuan / ton, up 220 yuan
from the previous trading day.
Changjiang Nonferrous Metal reported that the holders had shipped at a good price, the receiving party was bullish and replenished on the dip, the trading activity was good, and the overall transaction was acceptable
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipt is 126114 tons, with a daily increase of 3088 tons; LME stocks were 1,092,600 tonnes, a daily decrease of 5,700 tonnes
.
Main position: the top 20 long positions in the main 2112 contract of Shanghai aluminum held 143118 lots, with a daily increase of 4790 lots, a short position of 155885 lots, a daily increase of 5023 lots, a net short position of 12767 lots, a daily decrease of 352 lots, a long and short increase, and a net short decrease
.
Market Analysis: The Fed's Beige Book shows that the outlook for near-term economic activity remains positive, but uncertainty has increased
in some regions.
The overall sentiment was more cautious, making the US index fall again, giving some support
to the metal.
Under the background of overseas energy crisis, the continuous shortage of electricity and the tight supply of the global aluminum market have formed a strong support
for aluminum prices.
However, domestic inventories are still accumulating, and downstream operating rates have continued to decline, causing the market to worry
about weaker consumption.
At the same time, the drag on the market caused by the collapse of the three coal brothers has shown signs of
easing the drag.
Short-term market may have repetition
.
