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On Wednesday, the main 2104 contract of Shanghai aluminum opened high and went higher, with the highest 17650 yuan / ton and the lowest 17115 yuan / ton during the day, closing at 17640 yuan / ton, up 4.
44% from the closing price of the previous trading day; In the external market, LME aluminum continued to rise slightly, as of 15:00 Beijing time, 3-month Lun aluminum reported 2229.
5 US dollars / ton, up 0.
22%
per day.
Market focus: (1) San Francisco Fed President Daly said that inflation is too low, tens of millions of Americans are still in the field of vision, and monetary policy must remain loose
for a period of time.
(2) At 21:15 Beijing time on Wednesday, the United States will release the ADP employment report for February, which is expected to increase by 180,000.
(3) Nonferrous Metals Industry Association, as of February 26, the operating rate of non-ferrous metal smelting and copper and aluminum production enterprises surveyed was 90.
5%, an increase of 7.
1 percentage points
over February 19.
Spot analysis: On March 3, spot A00 aluminum was reported at 17410-17450 yuan / ton, with an average price of 17430 yuan / ton, a daily increase of 530 yuan / ton
.
Yangtze River Nonferrous Metal reported that cargo holders actively shipped, traders were afraid of heights and wait-and-see, large households were generally enthusiastic about receiving goods, and trading performance weakened
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 111512 tons on Wednesday, an increase of 602 tons per day; On March 2, LME aluminum stocks were 1307125 tons, a daily decrease of 9,675 tons, a 19-day
decline.
Main positions: the top 20 long positions of Shanghai aluminum main 2104 contract 125314 lots, a daily increase of 12457 lots, short positions of 148708 lots, a daily increase of 8824 lots, a net short position of 23394 lots, a daily decrease of 3633 lots, both long and short increases, and net space decreases
.
Domestic aluminum production profits remain high, electrolytic aluminum production capacity continues to increase, but the pace of production has slowed down, and under the carbon peak policy, Inner Mongolia will no longer approve new projects
this year.
Downstream processing enterprises have not fully resumed work, and domestic aluminum inventories have entered the accumulation cycle, but the overall is still at a low level, and the future market demand is expected to be good, which supports aluminum prices
.
Technically, the mainstream long position of the main 2104 contract of Shanghai aluminum increased its position greatly, and the high resistance before the test is expected to be strong in the future
.
