The economic outlook remains optimistic, and the main force of Shanghai aluminum opens high and goes high

Market focus: (1) Fed officials said that despite the government's approval of an unprecedented fiscal spending plan in response to the pandemic, inflation in the United States is unlikely to spiral out of control
.
(2) On Wednesday, the 5-year breakeven inflation rate topped 2.
7%, its highest level
since July 2008.
(3) My nonferrous metal network, on May 6, the inventory of electrolytic aluminum in China's main market was 1.
115 million tons, down 01,000 tons
from last week.

Spot analysis: On May 6, spot A00 aluminum was reported at 19130-19170 yuan / ton, with an average price of 19150 yuan / ton, a daily increase of 320 yuan / ton
.
Changjiang Nonferrous Metal reported that the holders of goods are selling their goods, the circulation of goods is sufficient, the transaction of low-priced sources is better, the enthusiasm of large households to receive goods is average, and the transaction activity is average
.

Warehouse receipt inventory: the total number of Shanghai aluminum warehouse receipts on Monday was 139,970 tons, a daily decrease of 937 tons, down 11 consecutive days; On May 5, LME stocks were 1810550 tonnes, down 17,250 tonnes
per day.
As of the week ended April 30, the previous Shanghai aluminum inventory was reported at 356609 tons, a weekly decrease of 21,169 tons
.

Main positions: the top 20 long positions of Shanghai aluminum main 2106 contract 171361 lots, a daily increase of 2939 lots, short positions of 185468 lots, a daily increase of 3870 lots, a net short position of 14107 lots, a daily increase of 931 lots, both long and short increases, net short increases
.

Market research and judgment: Shanghai aluminum 2106 opened high and went
high on May 6.
The vice chairman of the US Federal Reserve said that now is not the time to discuss tapering bond purchases, and the dollar index has been hindered to the upside; At the same time, the world's major economies are expected to maintain their recovery momentum, and the economic outlook remains optimistic
.
At present, the domestic electrolytic aluminum plant is basically in a state of full production, the growth space of the operating rate is limited, and under the domestic carbon neutrality goal, as a high-energy-consuming industry, the production capacity and output of electrolytic aluminum will be limited
.
Recently, domestic aluminum ingot inventory has turned into a downward trend, and the consumption season has gradually emerged, which has strong support for aluminum prices
.
Technically, the center of gravity of the main 2106 contract of Shanghai aluminum continues to move upward, focusing on the support of the 5-day moving average, and it is expected that the market volatility will be strong
.