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On Tuesday, the main 2106 contract of Shanghai aluminum opened high and went high, with the highest 18,655 yuan / ton and the lowest 18,390 yuan / ton during the day, closing at 18,605 yuan / ton, up 1.
33% from the closing price of the previous trading day; LME aluminum continued to rise, as of 15:00 Beijing time, 3-month Lun aluminum was reported at 2407.
5 US dollars / ton, up 0.
15%
per day.
Market focus: (1) The Fed's two-day meeting, which will begin on Tuesday, is expected to release some policy signals on whether the employment situation affects its plan
to maintain near-zero interest rates for an extended period of time and continue the pace of $120 billion monthly bond purchases.
(2) Biden will announce a plan to Congress on Wednesday that would raise tax rates on income, investments and inheritance for wealthy Americans to their highest level in more than four decades
.
Spot analysis: On April 27, spot A00 aluminum was reported at 18510-18550 yuan / ton, with an average price of 18530 yuan / ton, a daily increase of 180 yuan / ton
.
Changjiang Nonferrous Metal reported that the holders actively shipped, the downstream purchased on demand, the enthusiasm of large households to receive goods was general, and the transaction performance was weak
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 146882 tons on Tuesday, a daily decrease of 1,875 tons, a decline of 7 consecutive days; On April 26, LME stocks were 1,793,100 tons, down 3,825 tons per day, down for 12 consecutive days
.
Main positions: the top 20 long positions of Shanghai aluminum main 2106 contract 180794 lots, minus 1604 lots per day, short positions 193185 lots, daily reduction of 3324 lots, net short positions of 12391 lots, daily minus 1720 lots, long and short are reduced, net space is reduced
.
Market research and judgment: Shanghai aluminum 2106 opened high and went
high on April 27.
Strong Eurozone PMI data, indicating that the economic recovery is accelerating, the euro rally strengthened, coupled with Canada taking the lead in tightening monetary policy to boost the Canadian dollar, the dollar index came under pressure; And the world's major economies are expected to maintain the recovery momentum, and the economic outlook remains optimistic
.
At present, the domestic electrolytic aluminum plant is basically in a state of full production, the growth space of the operating rate is limited, and under the domestic carbon neutrality goal, as a high-energy-consuming industry, the production capacity and output of electrolytic aluminum will be limited
.
Recently, domestic aluminum ingot inventories have turned into a downward trend, and the traditional consumption season has gradually emerged, which has strong support for aluminum prices
.
Technically, the mainstream short position reduction of the main 2106 contract of Shanghai aluminum is large, focusing on the support of the 10-day moving average, and it is expected that the market volatility will be strong
.
