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On Wednesday, the main 2110 contract of Shanghai aluminum fluctuated higher, with a maximum of 20,705 yuan / ton, a minimum of 20,430 yuan / ton, and a close of 20,600 yuan / ton, up 0.
93% from the previous trading day's closing price; LME aluminum fluctuated to the upside, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $2618 / ton, up 0.
54%
from the previous session.
Market focus: (1) Market news: The U.
S.
House of Representatives has enough votes to pass a $3.
5 trillion budget plan and advance a $1 trillion infrastructure bill
.
(2) Within the day, the market came with the news that the second round of the fourth batch of central ecological environmental protection inspectors was fully launched, and it is reported that 7 central ecological environmental protection supervision teams were set up to carry out a one-month inspection and stationing work on five central enterprises in Jilin, Shandong, Hubei, Guangdong and Sichuan, China Nonferrous Mining Group Co.
, Ltd.
and China Gold Group Co.
, Ltd
.
Spot analysis: SMM spot A00 aluminum reported 20580-20620 yuan / ton, the average price was 20600 yuan / ton, up 190 yuan
per day.
Holders actively lowered the dumping of goods to realize, and the receiving party undercut the price to buy on demand, the market transaction performance was not good, and the transaction was light
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 80,249 tons, a daily decrease of 403 tons; LME stocks were 1,292,500 tonnes, down 2,625 tonnes
per day.
Main positions: the top 20 long positions in the main 2110 contract of Shanghai aluminum held 199086 lots, an increase of 8075 lots per day, a short position of 195222 lots, a daily increase of 11782 lots, a net long position of 3864 lots, a daily decrease of 3850 lots
.
Long and short increase, net long decrease
.
Market Facts: The U.
S
.
House of Representatives on Tuesday is voting to adopt a blueprint for a $3.
5 trillion budget resolution, focusing this week on Fed Chairman Jerome Powell's debt reduction at the annual meeting of global central banks on August 26.
At present, the fundamentals of the aluminum market are still strong, the supply-side disturbance continues, and the dual control of energy consumption in the production area superimposed on the environmental protection inspector continues to ferment, stimulating the bullish sentiment
of the aluminum market.
In addition, domestic and foreign inventories continue to degrade, downstream consumption margins strengthen, and short-term aluminum prices may run
strongly.
