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On Monday, the main 2110 contract of Shanghai aluminum rose sharply, with the highest 21980 yuan / ton, the lowest 21300 yuan / ton, and the closing 21730 yuan / ton, up 2.
04% from the previous trading day's closing price; LME aluminum is strongly volatile, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $2759 / ton, up 0.
93%
from the previous trading day.
Market focus: (1) The US non-farm payrolls of 235,000 in August significantly missed expectations of 733,000, the smallest increase in seven months
.
Previously, the Fed was widely expected to give advance notice in September and officially announce the start of tapering in November
.
However, after the data was released, Wall Street almost unanimously believed that a September announcement was almost unlikely, but an official announcement within the year is still a high probability
.
(2) According to the Russian Satellite News Agency, the leader of Guinea's "regime change" announced the dissolution of the government, the suspension of the constitution and the closure of the border
.
Spot analysis: SMM spot A00 aluminum reported 21620-21660 yuan / ton, the average price was 21640 yuan / ton, up 310 yuan
daily.
The cargo holder ships at a small price, the receiver has more price pressure, the trading atmosphere is acceptable, and the overall trading volume is average
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 76,434 tons, unchanged from the previous trading day; LME stocks were 1,341,000 tonnes, down 2,425 tonnes
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 2110 contract held 172638 lots, minus 116 lots per day, short positions 192637 lots, daily increase of 3790 lots, net short positions of 19999 lots, daily increase of 4801 lots, short and net short increase, long decrease
.
Market analysis: The US non-farm payrolls data was far less than expected, the dollar hit a nearly one-month low, and the market believes that the Fed may not be eager to tighten monetary policy
.
In addition, the announcement by Guinea's "regime change" leaders to dissolve the government, suspend the constitution and close the border may spur the cost of alumina to move further up
.
Domestically, the dual control of energy consumption in major producing areas and environmental protection inspectors continued to ferment, and supply disturbances continued to form strong futures price support
.
At the same time, the latest data show that the domestic electrolytic aluminum social inventory continues to deteriorate, and under the transformation of the supply and demand pattern, the future market aluminum price is still optimistic
.
