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On Wednesday, the main 2105 contract of Shanghai aluminum was sideways, with the highest 17135 yuan / ton and the lowest 16965 yuan / ton within the day, closing at 17075 yuan / ton, down 0.
06% from the closing price of the previous trading day; In terms of external trading, LME aluminum shock adjustment, as of 15:00 Beijing time, 3-month Lun aluminum reported 2211 US dollars / ton, down 0.
14%
on the day.
Market Focus: (1) Powell testified that the pace of recovery is faster than widely expected and appears to be strengthening
.
Inflation is expected to rise over the course of the year, but not particularly large and not persistent
.
And already have the tools to deal with inflation
.
(2) Germany announced that it will extend the lockdown measures until April 18, joining the camp
of many European countries in tightening lockdown measures.
Spot analysis: On March 24, spot A00 aluminum was reported at 17060-17100 yuan / ton, with an average price of 17080 yuan / ton, down 140 yuan / ton
per day.
Market outbound increases, demand improves, large households are willing to receive goods, and transaction activity increases
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 159225 tons on Wednesday, a daily decrease of 853 tons, a decline of 6 consecutive days; On March 23, LME aluminum stocks were 1956325 tons, down 7,700 tons
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 2105 contract 141207 lots, minus 1154 lots per day, short positions 148792 lots, daily minus 8060 lots, net short positions 7585 lots, daily minus 6906 lots, long and short are reduced, net space is reduced
.
Market research and judgment: Shanghai aluminum 2105 sideways on March 24
.
Rising inflation and rising US Treasury yields, as well as new lockdowns in Europe, further enhanced the attractiveness
of the dollar.
There is news that the National Reserve Bank plans to collect aluminum ingots before selling, and the rumored amount involved is about 500,000-800,000 tons, causing concerns about increased supply; At present, the speed of domestic production capacity launch is slow, and the dual control policy of energy consumption in Baotou in Inner Mongolia also affects
output.
And the recent aluminum ingot inventory has declined slightly, downstream demand has shown signs of recovery, demand prospects are optimistic, aluminum prices have stabilized
.
Technically, the mainstream short position of the main 2105 contract of Shanghai aluminum reduced its position and closed the doji, and it is expected that the market will stabilize and recover
.
