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On Wednesday, the main 2110 contract of Shanghai aluminum rushed back down, with the highest 22075 yuan / ton, the lowest 21675 yuan / ton, and the close at 21935 yuan / ton, up 0.
94% from the previous trading day's closing price; LME aluminum fluctuated higher, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $2786 / ton, up 0.
67%
from the previous trading day.
Market focus: (1) General Administration of Customs: China's exports of unwrought aluminum and aluminum products in August 2021 were 490,300 tons, an increase of 4.
53% month-on-month and 23.
99%
year-on-year.
From January to August, the cumulative export volume of unwrought aluminum and aluminum products was 3.
5754 million tons, an increase of 14.
2%
over last year.
Spot analysis: SMM spot A00 aluminum reported 21750-21790 yuan / ton, the average price was 21770 yuan / ton, up 60 yuan
daily.
Changjiang Nonferrous Metal Network reported that the holder adjusted the price to stimulate the realization of shipments, the receiving party was not very enthusiastic about purchasing, more low-priced procurement, the overall transaction turned light, and the transaction volume was average
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 78,157 tons, a daily decrease of 225 tons; LME stocks were 1334225 tonnes, an increase of 600 tonnes
per day.
Main positions: the top 20 longs in the main 2110 contract of Shanghai aluminum held 173110 lots, an increase of 8134 lots per day, a short position of 187667 lots, a daily increase of 3125 lots, a net short position of 14557 lots, a daily decrease of 4765 lots, a long and short increase, and a net short decrease
.
Market judgment: Worried that the accelerated spread of the new crown Delta variant will hinder US economic growth, market risk aversion has increased, the dollar recovered the lost ground after the non-farm payrolls report, the Federal Reserve will release the Beige Book within the day, investors will look for clues to inflationary pressures and tight labor markets
.
Recently, affected by factors such as dual control of energy consumption and international events, the supply of raw materials such as bauxite and thermal coal has continued to be tight, and prices have been firm
.
In addition, China's aluminum export data increased, and the National Development and Reform Commission's promotion of green power trading may boost aluminum consumption
.
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
.
