The main force of Shanghai aluminum oscillated upward, and the overall trading situation was relatively average

Market focus: (1) Fed Governor Quarles: It's too early
to discuss interest rate hikes.
(2) A pre-notice issued by Yunnan Power Grid for emergency peak shift preparation shows that the order levels of electricity control of industrial enterprises in Yunnan are electrolytic aluminum (level 1), yellow phosphorus (level 2), cement (level 2), iron and steel (level 2), and lead and zinc (level 3).

(3) Statistics of 6063 aluminum rod inventory in China's main markets (21.
5.
24-21.
5.
27), a total decrease of 0.
35 million tons of my nonferrous metals: Electrolytic aluminum inventory statistics in China's main markets (21.
5.
24-21.
5.
27), a total decrease of 22,000 tons
.

Spot analysis, on May 27, spot A00 aluminum reported 18350-18390 yuan / ton, the average price was 18370 yuan / ton, down 20 yuan
per day.
Changjiang Nonferrous Metal reported that the holders adjusted prices and sold off, the willingness to receive goods was not high, the enthusiasm of large households to receive goods was average, and the transaction activity declined
.

Warehouse receipt inventory, Shanghai aluminum warehouse receipts on Thursday totaled 146829 tons, down 3,973 tons from the previous trading day; On May 26, LME stocks were 1728375 tonnes, down 5,400 tonnes
per day.

The main position, the top 20 long positions of Shanghai aluminum main 2107 contract held 146777 lots, a daily decrease of 4374 lots, a short position of 130797 lots, a daily decrease of 1497 lots, a net long position of 15980 lots, a daily increase of 4012 lots, a long and short reduction, a net increase
.

Market research: The Fed has repeatedly downplayed the market's expectations for its interest rate hikes, despite the strong fundamentals of the US economy, the US index is still in the current downward trend, and it is necessary to pay attention to the support
of the US index 90 line in the short term.
On the policy side, the market sentiment affected by China's policies eased slightly; The spot market has abundant circulating supplies, the price is slightly discounted to the average price, and the overall trading situation is relatively general
.
On the demand side, terminal consumption is still in the peak season, and aluminum ingots and aluminum rods continue to be destocked, strongly supporting aluminum prices
.
Technically, the main 2107 contract day MACD indicator of Shanghai aluminum shows a narrowing of the green kinetic energy column, focusing on moving average support
.