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On Wednesday, the main 2107 contract of Shanghai aluminum fluctuated upward, with the highest 18810 yuan / ton, the lowest 18565 yuan / ton, and the closing 18705 yuan / ton, up 210 yuan / ton from the previous trading day's closing price; LME aluminum fluctuated to the downside, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $2420 / ton, down 0.
23%
from the previous session.
Market focus: (1) The National Material Reserve Adjustment Center issued an announcement
on the release of the first batch of national reserves of copper, aluminum and zinc in 2021.
According to the National Food and Material Reserve Administration No.
2 Announcement in 2021, it was decided to start the first batch of national reserves of copper, aluminum and zinc in 2021, with 20,000 tons, 50,000 tons and 30,000 tons respectively, and the public bidding
will be held from July 5 to 6.
Spot analysis: spot A00 aluminum reported 18750-18790 yuan / ton, the average price was 18770 yuan / ton, up 260 yuan
per day.
The overall performance of spot circulation sources has tightened, fear of heights has become stronger, holders actively dump goods, receivers purchase at low prices, and the overall transaction is weak
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 73,851 tons, down 300 tons from the previous trading day; LME stocks were 1616325 tonnes, down 7,525 tonnes
per day.
Main positions: the top 20 long positions in the main 2107 contract of Shanghai aluminum held 70271 lots, a daily decrease of 4512 lots, short positions of 68666 lots, a daily decrease of 3889 lots, a net long position of 1605 lots, a daily increase of 405
.
Long and short decrease, net increase
increase.
Fed Chairman Jerome Powell reiterated his dovish stance and will continue to promote a broad and comprehensive recovery in the labor market, not raising interest rates early just for fear of soaring inflation, but will patiently wait for evidence of actual inflation or other imbalances, and the dollar index will retreat
from its highs.
Fundamentals, Yunnan's power rationing has not fully recovered, and if the import window continues to close, there is still a certain gap
in the balance of supply and demand.
The state has introduced a specific amount of reserves at the end of the month, which is lower than previously expected, resulting in a certain rebound
in aluminum prices.
In addition, the market is at the end of the consumption season, and the downstream consumer market has shown some signs of
weakening.
