The main force of Shanghai aluminum fluctuated and fell, and the market trading performance was acceptable

Market focus: (1) Fed Chairman Jerome Powell said in a letter to Senator Rick Scott that U.
S.
inflation is expected to "rise slightly" this year, but the Fed will curb the rise
in inflation above the 2% target.
(2) The Ministry of Industry and Information Technology said that the next step will be to actively take measures with relevant departments to promote the stabilization of raw material prices
.

Spot analysis: On April 20, spot A00 aluminum was reported at 18100-18140 yuan / ton, with an average price of 18120 yuan / ton, flat
.
The supply of circulating goods is tight, the receiving party actively enters the market, the enthusiasm of large households to receive goods is general, and the transaction performance is acceptable
.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 155836 tons on Wednesday, a daily decrease of 2,067 tons; On April 20, LME stocks were 1812625 tons, down 7,000 tons per day, down for 8 consecutive days
.

Main positions: the top 20 long positions of Shanghai aluminum main 2106 contract 161949 lots, a daily decrease of 316 lots, short positions of 168349 lots, a daily increase of 214 lots, a net short position of 6400 lots, a daily increase of 530 lots, a long reduction of short increases, and an increase
in net short.

Market research and judgment: On April 21, Shanghai aluminum 2106 fluctuated and fell
.
Fed Chairman Jerome Powell said that he would curb the rise of inflation above the 2% target, which would support the dollar; Recently, the new coronavirus infection in some countries has surged again, and risk appetite has cooled
.
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 inventories have turned into a downward trend, and the traditional consumption season has gradually emerged, which has strong support for aluminum prices
.
Technically, the mainstream position of the main 2106 contract of Shanghai aluminum increased and decreased more, paying attention to the support of the 10-day moving average, and it is expected that the market will fluctuate
at a high level.