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On Wednesday, the main 2107 contract of Shanghai aluminum fluctuated and fell, with the highest 18870 yuan / ton, the lowest 18535 yuan / ton, and the close at 18605 yuan / ton, down 155 yuan / ton from the previous trading day's closing price; LME aluminum opened low and went low, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $2466.
5 / ton, down 0.
62%
on a daily basis.
Market focus: (1) The final value of the Markit manufacturing PMI in May was 62.
1, continuing from a new high in May 2007, expected to be 61.
5, the preliminary value was 61.
5; the ISM manufacturing PMI in May was 61.
2, 60.
7 expected, 60.
7 in the previous month; the ISM new orders index was 67, the previous value was 64.
3; the ISM employment index was 50.
9, the previous value was 55.
1
.
Spot analysis: On June 2, spot A00 aluminum reported 18660-18700 yuan / ton, the average price was 18680 yuan / ton, down 30 yuan
per day.
The holder continued to raise the price, the receiver received the goods at a low price, the enthusiasm of the large customers to receive the goods was acceptable, and the transaction performance was acceptable
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 117952 tons on Wednesday, down 5,029 tons from the previous trading day; On June 1, LME stocks stood at 1,707,000 tonnes, down 11,300 tonnes
per day.
Main positions: the top 20 long positions of the main 2107 contract of Shanghai aluminum held 137769 lots, a daily increase of 4767 lots, a short position of 125559 lots, a daily increase of 2159 lots, a net long position of 12210 lots, a daily decrease of 2897 lots, a long and short increase, a net long decrease
.
Market research: The previously released U.
S.
ISM manufacturing PMI for May was better than market expectations to help the dollar rebound from the intraday low, the market is currently focused on the non-farm payrolls data to be released on Friday, if the labor market recovery is strong will boost the Fed's expectation of early QE tapering, giving the dollar a boost
.
During the day, the overall performance of aluminum ingot spot is good, power rationing has little impact on downstream terminal large enterprises, cargo holders actively ship, traders take goods at low prices, the overall transaction can maintain the price of aluminum rods, downstream peak season just demand, bargain to take goods
.
Overall, short-term supply disruptions persist, social treasury dematerialization has slowed down, and aluminum prices have remained high and volatile
.
Technically, the 1-hour MACD indicator of the main contract of Shanghai aluminum shows that DIFF and DEA are running downward, and the green column is stable
.
