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On Monday, the main 2106 contract of Shanghai aluminum rose in shock, with the highest 18265 yuan / ton and the lowest 17910 yuan / ton within the day, closing at 18215 yuan / ton, up 1.
22% from the closing price of the previous trading day; In the external market, LME aluminum fluctuated up, as of 15:00 Beijing time, 3-month Lun aluminum was reported at 2341 US dollars / ton, up 0.
86%
per day.
Market focus: (1) US President Joe Biden plans to meet with both parties to sell his infrastructure plan
again.
(2) According to my nonferrous metal network, on April 19, the inventory of electrolytic aluminum in China's main market was 1.
158 million tons, down 36,000 tons from last Thursday and 50,000 tons
from last Monday.
Spot analysis: On April 19, spot A00 aluminum was reported at 18100-18140 yuan / ton, with an average price of 18120 yuan / ton, down 10 yuan / ton
per day.
Yangtze River Nonferrous Metal reported that the holders of goods shipped at a high price, the enthusiasm of large households to receive goods was general, and traders mainly
traded and invested.
Warehouse receipt inventory: the total number of Shanghai aluminum warehouse receipts on Monday was 158,400 tons, a daily decrease of 151 tons; On April 16, LME stocks were 1824250 tons, down 5,075 tons per day, down for six consecutive days
.
As of the week of April 16, the Shanghai aluminum inventory in the previous period was reported 385198 tons, a weekly decrease of 7,050 tons
.
Main positions: the top 20 long positions of Shanghai aluminum main 2106 contract 159739 lots, a daily increase of 1727 lots, short positions of 167090 lots, a daily increase of 2384 lots, a net short position of 7351 lots, a daily increase of 657 lots, long and short increases, net space decreases
.
Market research and judgment: On April 19, Shanghai aluminum 2106 fluctuated up
.
The Fed's ultra-loose monetary policy weighed on the dollar index; At the same time, US President Joe Biden proposed a $1.
52 trillion fiscal year 2022 budget to boost market risk sentiment
.
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, Inner Mongolia has limited the production of the aluminum industry, and the supply side is restricted; It is rumored that Xinjiang will also take measures to limit production, but it has not been confirmed, and the market wait-and-see attitude
.
Recently, domestic aluminum ingot inventories have turned into a downward trend, downstream procurement willingness is positive, and the traditional consumption season is gradually emerging, which has strong support for aluminum prices
.
Technically, the mainstream short position of the main 2106 contract of Shanghai aluminum increased significantly, and the moving average group rose, and it is expected that the market volatility will be strong
.
