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Internal and external trends: LME aluminum fell on Monday, as of 15:02 Beijing time, 3-month Lun aluminum was reported at 1803.
5 US dollars / ton, down 0.
17%
on a daily basis.
The main 1909 contract of Shanghai aluminum fluctuated sideways, with the highest 13900 yuan / ton and the lowest 13845 yuan / ton during the day, and the closing price was 13880 yuan / ton, up 0.
04% from the previous trading day's closing price; The trading volume was 96,000 lots, a daily decrease of 25,024 lots, and the position was 235,200 lots, a daily decrease of 9,802 lots
.
The basis was reduced to -20 yuan/ton; The price difference between Shanghai aluminum in 1909 and 1910 widened to 10 yuan / ton
.
Market Focus: US President Donald Trump said on Friday that he did not rule out measures to curb the
dollar's strength.
In June, the total export volume of China's five tariff codes of aluminum foil was 115,900 tons, and the export volume in May was 125,000 tons, down 7.
29% from the previous month; The export volume in June last year was 113,500 tons, a slight increase of 2.
1%
year-on-year.
Spot analysis: On July 29, the spot A00 aluminum quotation was 13840-13880 yuan / ton, and the average price was 13860 yuan / ton, down 80 yuan / ton
from the previous trading day.
In the morning, a large household received nearly 10,000 tons, the holder recognized the price, the shipment was very active, the middleman was willing to reverse the goods, the receipt of goods was acceptable, and the market trading was more active
.
Downstream needs to replenish goods due to the small purchase volume on Friday, and the aluminum price fell back to the acceptable range on Monday, and the receipt was good
.
Warehouse receipt inventory: the total amount of Shanghai aluminum warehouse receipts on Monday was 147535 tons, an increase of 2301 tons per day; On July 26, LME aluminum stocks were 1021325 tons, an increase of 33,350 tons
per day.
As of the week of July 26, the aluminum inventory of the Shanghai Futures Exchange was 396,400 tons, a weekly decrease of 25,622 tons
.
Main positions: the top 20 long positions of Shanghai aluminum main 1909 contract are 79935 lots, minus 1890 lots per day, short positions are 85509 lots, daily minus 2581 lots, net short positions are 5574 lots, daily minus 691 lots, long and short are reduced, net space is reduced
.
The main 1909 contract of Shanghai aluminum fluctuated
sideways during the day.
The weak operation of the US dollar, coupled with the decline in alumina inventories, will improve the weak situation of alumina prices and support aluminum prices, while the global economic data is not performing well, market pessimism is heating up, downstream demand is still weak, forming some pressure
on aluminum prices.
In terms of spot, a large household received nearly 10,000 tons of goods in the morning, the holders recognized the price, the shipment was very positive, the middleman was willing to reverse the goods, the receipt of goods was acceptable, and the market trading was more active
.
Downstream needs to replenish goods due to the small purchase volume on Friday, and the aluminum price fell back to the acceptable range on Monday, and the receipt was good
.
Technically, the MACD red column of the main 1909 contract of Shanghai aluminum is flat, focusing on the support of the 13770 position below, and the short-term shock is expected to be strong
.
