The main force of Shanghai aluminum rushed back down and the futures price closed slightly higher

Market focus: (1) The US NFIB small business confidence index recorded 99.
6 in May, 101 expected, and 99.
8
in the previous month.
In the week of June 5, Redbook commercial retail sales increased by 14.
5% year-on-year, compared with a 13%
increase in the previous month.
(2) In May 2021 (31 days), China's electrolytic aluminum output was 3.
315 million tons, a year-on-year increase of 7.
95%; From January to May 2021, China produced a total of 16.
251 million tons of electrolytic aluminum, a cumulative increase of 8.
30%
year-on-year.

Spot analysis: spot A00 aluminum reported 18370-18410 yuan / ton, the average price was 18390 yuan / ton, up 30 yuan
per day.
Changjiang Nonferrous Metal reported that the cargo holders tried to ship at a high price, the demand of the receiving party was general, and the overall transaction was weak
.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 90,077 tons, down 10,406 tons from the previous trading day; LME stocks were 1653175 tonnes, down 13,200 tonnes
per day.

Main positions: the top 20 long positions of the main 2107 contract of Shanghai aluminum held 125822 lots, an increase of 624 lots per day, a short position of 117345 lots, a daily increase of 1925 lots, a net long position of 8477 lots, a daily decrease of 1534 lots, a long and short increase, a net long decrease
.

Market research: The non-farm payrolls data released on Friday fell short of market expectations, and the market's expectations of the Fed's early reduction cooled, which continued the weakness of the dollar
.
Markets await the release of US inflation data for May on Thursday to assess the prospects
for the Fed's stimulus cuts.
On the supply side, Yunnan, Inner Mongolia, Guizhou and other places have increased the control and production reduction of high-energy-consuming industries such as electrolytic aluminum, and there have been many supply disturbances recently, and it is expected that the domestic electrolytic aluminum operating capacity will continue to decline slightly; On the demand side, the performance of domestic electrolytic aluminum social inventory continued to be destocked, the processing cost of aluminum rod consumption was stable and slightly consolidated, and the downstream on-demand procurement was weak
.
Overall, the recent aluminum price is mainly disturbed by the rumors of dumping storage, and the futures price is under pressure
above.