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Internal and external trends: LME aluminum volatility was weak on Friday, as of 15:05 Beijing time, 3-month Lun aluminum was reported at 1749 US dollars / ton, down 0.
29%
on a daily basis.
The main 1910 contract of Shanghai aluminum rebounded slightly, with the highest 14280 yuan / ton and the lowest 14195 yuan / ton during the day, closing at 14260 yuan / ton, down 0.
25% from the previous trading day's closing price; The trading volume was 122,200 lots, a daily decrease of 14,928 lots, and the position was 298,100 lots, a daily decrease of 9,784 lots
.
Market Focus: White House economic advisers said the two sides will call again this week, while saying they look forward to the Chinese economic and trade team going to the United States in September for negotiations
.
At 20:30 Beijing time on Friday, the United States will release personal income and expenditure for July and the PCE index, which is the Fed's preferred measure
of inflation.
Spot analysis: On August 30, the spot A00 aluminum quotation was 14270-14310 yuan / ton, and the average price was 14290 yuan / ton, up 30 yuan / ton
from the previous trading day.
The market supply is relatively sufficient, a large household has no procurement plan, the holders are actively shipping, the middlemen are active in trading and dumping goods, but the mutual inquiry is relatively deadlocked, the transaction price difference is small, and some holders in Shanghai and Tin quoted 14310 yuan / ton with almost no transaction
.
Due to the approaching weekend, the superimposed price is more recognized, and the downstream part is
stocked.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 142,020 tons on Friday, a daily decrease of 955 tons; On August 29, LME aluminum stocks were 928275 tons, down 7,950 tons
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 1910 contract are 96492 lots, minus 1476 lots per day, short positions are 110123 lots, daily minus 4619 lots, net short positions are 13631 lots, daily minus 3143 lots, long and short are reduced, net space is reduced
.
Market research and judgment: On August 30, the main 1910 contract of Shanghai aluminum rebounded
slightly.
China and the United States are discussing trade negotiations in September, market optimism has warmed up, coupled with upstream alumina production reduction, price recovery, midstream electrolytic aluminum inventory decomposition, and the arrival of the peak season of the aluminum market, demand is expected to increase, aluminum prices are strong, and affected by higher aluminum prices, electrolytic aluminum plants are more willing to put into production, forming a partial negative
for aluminum prices.
In terms of spot, the market supply is relatively sufficient, a large household has no procurement plan, the holder is actively shipping, the middleman is active in trading and dumping, but the inquiry between each other is more deadlocked, because it is close to the weekend, the superposition is more recognized for the price, and the downstream part is stocked
.
Technically, the main 1910 contract of Shanghai aluminum focuses on the support of the 14120 position below, and it is expected that the short-term shock will be strong
.
