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On Tuesday, the main 2101 contract of Shanghai aluminum was adjusted to the highest of 16220 yuan / ton, the lowest of 16010 yuan / ton, and the close of 16070 yuan / ton, down 0.
03% from the previous trading day; In the external market, LME aluminum continued to fall, as of 15:00 Beijing time, 3-month Lun aluminum reported 2006 US dollars / ton, down 0.
35%
per day.
Market focus: (1) The US President Trump administration will target a new round of sanctions against Hong Kong, targeting dozens of Chinese officials
.
(2) The Sun, British Prime Minister Boris Johnson is ready to withdraw from trade negotiations
with the EU "within a few hours" at the request of the EU.
Spot analysis: On December 8, spot A00 aluminum was reported at 16480-16520 yuan / ton, and the average price was 16500 yuan / ton, flat
.
The purchaser is mainly wait-and-see, the demand performance is light, and the transaction activity is average
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 84,021 tons on Tuesday, a daily decrease of 224 tons, a continuous decline of 16 days; On December 7, LME aluminum stocks were 1350575 tons, a daily decrease of 2,775 tons, a 14-day
decline.
Main positions: the top 20 long positions of the main 2101 contract of Shanghai aluminum are 72227 lots, minus 1085 lots per day, short positions are 90713 lots, daily minus 573 lots, net short positions are 18486 lots, daily increase of 512 lots, long and short are reduced, net space increases
.
Market research and judgment: Shanghai aluminum main force 2101 shock adjustment
on December 8.
Domestic electrolytic aluminum market demand maintained good performance, and aluminum plant production capacity was less than expected, and inventories in Shanghai and London showed a downward trend, which still supported
aluminum prices.
However, the US sanctions bill has led to the heating up of Sino-US friction, coupled with the UK's Brexit negotiations with the EU are on the verge of breaking down again, risk aversion has boosted the dollar index; At the same time, the production profit of electrolytic aluminum is high, which stimulates the production capacity in the medium and long term; Coupled with the recent expansion of import arbitrage, the inflow of overseas goods is expected to increase, and spot inventories have rebounded, which has increased pressure on aluminum prices
.
Technically, the main 2101 contract of Shanghai aluminum reduced its position, paying attention to the 20-day moving average support, and it is expected to continue to adjust
in the short term.
