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On Tuesday, the main 2010 contract of Shanghai aluminum opened high, with a maximum of 14,545 yuan / ton, a minimum of 14,460 yuan / ton, and a close of 14,485 yuan / ton, up 0.
03% from the closing price of the previous trading day; As of 15:00 Beijing time, 3-month Lun aluminum was reported at $1794 / ton, down 0.
19%
on a daily basis.
Market focus: (1) British Prime Minister Johnson gave a deadline that if the UK and EU cannot reach an agreement before October 15, the UK will withdraw from the "Brexit" negotiations and accept the "no-deal Brexit" situation
.
(2) According to sources, Japanese buyers have agreed to raise the pricing of aluminum premium in the fourth quarter to $88/ton from $79/ton this quarter, an increase of 11% month-on-month, which is also the first quarterly increase in aluminum premium in five years
.
Spot analysis: On September 8, spot A00 aluminum was reported at 14700-14740 yuan / ton, and the average price was 14720 yuan / ton, unchanged from yesterday.
Yangtze River Nonferrous Metal reported that traders mainly shipped goods, market sentiment was not good, downstream wait-and-see was the mainstay, and the overall transaction was flat
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 128767 tons on Tuesday, an increase of 2,551 tons per day; On September 7, LME aluminum stocks were 1533625 tons, a daily decrease of 4,050 tons, a decline of 13 consecutive days
.
Main positions: the top 20 long positions of Shanghai aluminum main 2010 contract were 74137 lots, minus 3096 lots per day, short positions were 88187 lots, daily minus 521 lots, net short positions were 14050 lots, daily increase of 2575 lots, long and short were reduced, and net space increased
.
At present, electrolytic aluminum inventories are still at a low level, and the accumulation range during the off-season is limited, and there is news that Japanese buyers agreed to raise the price of aluminum premiums in the fourth quarter, showing optimism about the future market; At the same time, downstream aluminum rod inventories still continue to degrade, and have now reached a low level this year, which strengthens
the support for aluminum prices.
However, the recent better-than-expected employment data from the United States, coupled with concerns about a no-deal Brexit, supported the dollar index; And the domestic electrolytic aluminum production capacity gradually recovered, the inventory of electrolytic aluminum in some areas increased, and the supply maintained an upward trend, limiting the upward momentum
of aluminum prices.
Technically, the main 2010 contract of Shanghai aluminum reduced its position, and the mainstream bulls reduced their positions even more, and it is expected that the short-term shock adjustment
.
