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On Tuesday, the main 2102 contract of Shanghai aluminum continued to decline, with the highest 15665 yuan / ton and the lowest 15295 yuan / ton during the day, closing at 15365 yuan / ton, down 1.
28% from the closing price of the previous trading day; As of 15:00 Beijing time, 3-month Lun aluminum was reported at $1988 / ton, down 2.
07%
on a daily basis.
Market focus: (1) Trump signed a $2.
3 trillion stimulus bill, including a $900 billion relief package
.
(2) According to China's customs data, China's primary aluminum imports in November were 56,000 tons, down 49.
8% from the previous month, and the cumulative import volume of primary aluminum from January to November was 933,000 tons
.
(3) China's net alumina imports in November were 240,900 tons, an increase of 40.
02% month-on-month and 22.
74%
year-on-year.
Spot analysis: On December 29, spot A00 aluminum was reported at 15850-15890 yuan / ton, with an average price of 15870 yuan / ton, down 320 yuan / ton
per day.
Changjiang Nonferrous Metal reported that the circulation supply is sufficient, the shipment of cargo holders has encountered obstacles, procurement demand is sluggish, and the transaction activity is average
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 65,281 tons on Tuesday, an increase of 398 tons per day; On December 24, LME aluminum stocks were 1372350 tons, down 5,750 tons
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 2102 contract were 64296 lots, minus 1042 lots per day, short positions were 78403 lots, daily minus 3688 lots, net short positions were 14107 lots, daily minus 2646 lots, long and short were reduced, and net space was reduced
.
Market research and judgment: On December 29, Shanghai aluminum 2102 continued to decline
.
US President Donald Trump agreed to sign the stimulus bill, coupled with the start of vaccination efforts in Europe, market risk sentiment has increased, but there is still a possibility
of an outbreak in the spread of variant viruses.
The recent pollution weather in the north has caused some aluminum companies to face production stoppages, downstream demand has weakened, and domestic electrolytic aluminum spot stocks have continued to rise; However, the domestic electrolytic aluminum production capacity is slow, so that the inventory growth is still limited, and aluminum prices are facing pressure to pullback
.
Technically, the trading volume of Shanghai's main 2102 contract continued to fall, and the bearish atmosphere was heavier, and it is expected that the short-term will continue to be weak
.
