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On Thursday, the main 2107 contract of Shanghai aluminum opened high and went high, the highest 18930 yuan / ton, the lowest 18550 yuan / ton, the close of 18645 yuan / ton, down 70 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 $2419 / ton, down 0.
62%
from the previous session.
Market focus: (1) Fed officials expect the Fed to raise interest rates for the first time in 2022, the US economy may reach the threshold for the Fed to taper asset purchases sooner than expected, and the dollar edged higher
.
(2) China 6063 aluminum rod spot inventory on the 24th (10,000 tons): Foshan 4.
95, Wuxi 1.
05, Nanchang 2.
1, Changzhou 0.
85, Huzhou 1.
2, Chengdu 0.
55, Gongyi 0.
4, Luoyang 0, total 11.
1, less 0.
6
from this Monday (June 21).
Spot analysis, spot A00 aluminum reported 18640-18680 yuan / ton, the average price was 18660 yuan / ton, down 110 yuan
daily.
Traders are bearish and shipped, receiving parties are waiting and seeing, prices are reduced and purchased on demand, large households are generally enthusiastic about receiving goods, and the overall transaction activity has declined
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 69,977 tons, down 3,874 tons from the previous trading day; LME stocks were 1,609,100 tonnes, down 7,225 tonnes
per day.
Main positions: the top 20 long positions of the main 2107 contract of Shanghai aluminum held 58459 lots, minus 10730 lots per day, short positions 57802 lots, minus 9132 lots per day, net long positions 657 lots, daily minus 948 lots
.
Long short and net long minus
.
Market judgment: Fed officials expect the Fed to raise interest rates for the first time in 2022, the US economy may reach the threshold for the Fed to scale back asset purchases sooner than expected, and the dollar edged higher
.
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 dumped at the end of the month, and the short-term impact is not large
.
In addition, the aluminum rod social library fell slightly this week, but the overall speed of destocking has slowed down, and the seasonal consumption off-season may come
.
