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On Monday, the main 2109 contract of Shanghai aluminum was running strongly, with the highest 20415 yuan / ton, the lowest 20105 yuan / ton, and the close at 20150 yuan / ton, up 0.
62% from the closing price of the previous trading day; LME aluminum was weak and volatile, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $2599 / ton, down 0.
44%
from the previous session.
Market focus: (1) The spread of the epidemic in Australia Tomago aluminum plant faces the risk of production reduction: Australia's Tomago aluminum plant may face the risk
of production reduction due to the isolation of employees.
Located in New South Wales, the aluminium plant is Australia's largest aluminium smelter with an annual capacity of 590,000 tonnes
.
(2) The preliminary value of the University of Michigan consumer confidence index in the United States in August was 70.
2, the lowest level since 2011, the previous value was 81.
2, and the expectation was 81.
2
.
(3) According to foreign news on August 16, official data released on Monday showed that China's primary aluminum production fell for three months
in July.
Spot analysis: SMM spot A00 aluminum reported 20230-20270 yuan / ton, the average price was 20250 yuan / ton, up 200 yuan
per day.
The cargo holder sells at a high price, the receiver purchases at a low price on demand, the enthusiasm of large households to receive goods is general, and the overall transaction is relatively general
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 91242 tons, with a daily increase of 2122 tons; LME stocks were 1312950 tonnes, down 10,875 tonnes
per day.
Main positions: the top 20 long positions of Shanghai aluminum 2109 contract held 145429 lots, minus 4859 lots per day, short positions 144692 lots, minus 4360 lots per day, net long positions 737 lots, daily minus 484 lots
.
Both long and short and net long are reduced
.
Market analysis: The US dollar hit its low level since last week as consumer confidence fell sharply in early August, raising concerns about slowing economic activity and hitting market expectations of an early tightening by the US Federal Reserve
.
On the supply side, Australia's largest aluminum smelter is facing the risk of reducing production, the power shortage in the main producing areas in the southwest of China continues to fail to ease, and the supply disturbance of the aluminum market has been repeated.
In addition, the current aluminum market continues to destock, the inflection point of accumulation continues to move backward, and the "gold nine silver ten" consumption season is coming, processing enterprises have increased the demand for replenishment, under the change of supply and demand pattern, short-term aluminum prices or strong operation
.
