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On Tuesday, the main 2010 contract of Shanghai aluminum opened high, with a maximum of 14,635 yuan / ton and a minimum of 14,530 yuan / ton during the day, closing at 14,555 yuan / ton, up 0.
10% from the previous trading day's closing price; In the external market, LME aluminum rose sharply, as of 15:00 Beijing time, 3-month Lun aluminum was reported at 1812 US dollars / ton, up 0.
78%
per day.
Market Focus: (1) Fed Vice Chairman Clarida said the Fed is committed not to raising interest rates simply because of falling unemployment, allowing appropriate 2% inflation targets
in many cases.
Spot analysis: On September 1, spot A00 aluminum was reported at 14680-14720 yuan / ton, with an average price of 14700 yuan / ton, down 60 yuan / ton
per day.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 128038 tons on Tuesday, a daily decrease of 805 tons; On August 28, LME aluminum stocks were 1554375 tons, down 4,925 tons
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 2010 contracts were 74179 lots, an increase of 3360 lots per day, short positions were 88304 lots, a daily increase of 3126 lots, net short positions were 14125 lots, a daily decrease of 234 lots, long and short positions increased, and net space decreased
.
Market research and judgment: On September 1, the main force of Shanghai aluminum 2010 opened high and low
.
The US index fell to a new 28-month low with dovish signals from the vice chairman of the US Federal Reserve, and the announcement of more measures on steel imports from Mexico and Brazil; At the same time, the upstream Alunrote alumina plant reduced production, and alumina prices have recently recovered slightly; Moreover, the current electrolytic aluminum inventory is still at a low level, and the import window is initially closed to inhibit the entry of overseas sources; In addition, the overall performance of downstream demand is acceptable, and the recent increase in aluminum rod processing fees and the decline in aluminum rod inventories have supported aluminum prices
.
However, the gradual recovery of domestic electrolytic aluminum production capacity, the rising operating rate of manufacturers, and the rapid rise in import supply have increased the pressure on aluminum prices
.
Technically, the main 2010 contract of Shanghai aluminum maintains range operation, and the support of 14450 below is strong, and it is expected to be strong in the short term
.
