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LME aluminum fell on Tuesday, as of 15:05 Beijing time, 3-month Lun aluminum was reported at $1786.
5 / ton, down 0.
06%
on a daily basis.
The main 1911 contract of Shanghai aluminum fluctuated downward, with the highest 14315 yuan / ton and the lowest 14205 yuan / ton within the day, closing at 14240 yuan / ton, down 0.
28%
from the closing price of the previous trading day.
Market focus: At the invitation of the US side, Liao Min, Deputy Director of the Central Finance Office and Vice Minister of Finance, plans to lead a delegation to visit the United States on Wednesday this week to consult
with the US side on economic and trade issues.
The recent rise in oil prices has brought inflationary pressures to the United States, and rising inflation has lowered expectations of interest rate cuts by the Federal Reserve, which is 34% chance of leaving interest rates unchanged this time, compared to 5.
4%
a week ago.
Spot analysis: On September 17, the spot A00 aluminum quotation was 14310-14350 yuan / ton, the average price was 14330 yuan / ton, down 70 yuan / ton
per day.
The morning transaction is general, after 10:30, the market trading atmosphere gradually rises, the enthusiasm of middlemen to receive goods is high, the performance of the holders is reluctant to sell, the shipment is not much, and the trading between the two sides is active
.
Downstream manufacturers are more recognized by the price, and there is a certain replenishment demand after the superimposed holiday, and the procurement is more active
.
Overall, the market's view of the short-term future market is still strong
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 139661 tons on Tuesday, a daily decrease of 277 tons; On September 16, LME aluminum stocks were 908425 tons, a daily decrease of 2,525 tons
.
Main positions: the top 20 long positions of the main 1911 contract of Shanghai aluminum are 80834 lots, minus 3288 lots per day, short positions are 102627 lots, daily minus 4154 lots, net short positions are 21793 lots, daily minus 866 lots, long and short are reduced, and net space is reduced
.
On September 17, the main force of Shanghai aluminum 1911 fluctuated
downward.
The Fed's interest rate cut expectations fell, the dollar rose, and China's industrial added value in August performed poorly, coupled with weak downstream demand, aluminum prices were under pressure, but upstream alumina prices rebounded, cost pressure declined, and midstream electrolytic aluminum inventory inventory dematerialization continued, aluminum prices still have upward momentum
.
In terms of spot, due to the recent large import losses, the continuous net consumption of domestic spots, the willingness of holders to rise to the water is strong, traders reflect that the overall transaction is general, because the price has been lowered a lot, downstream just need to purchase OK
.
Technically, the main 1911 contract of Shanghai aluminum daily MACD green column growth, pay attention to the 14100 position support, is expected to short-term low recovery
.
