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LME aluminum extended its rise on Friday, as of 15:20 Beijing time, 3-month Lun aluminum was reported at $1763 / ton, up 0.
23%
on a daily basis.
The main 1912 contract of Shanghai aluminum rebounded, with a maximum of 13,905 yuan / ton, a minimum of 13,775 yuan / ton, and a close of 13,875 yuan / ton, up 0.
25% from the closing price of the previous trading day; The trading volume was 131,200 lots, an increase of 55,466 lots per day, and the position was 227,400 lots, a daily decrease of 730 lots
.
The basis was reduced to 125 yuan/ton; The price difference between Shanghai and aluminum from 1912 to 2001 narrowed to 25 yuan / ton
.
Market focus: The House of Representatives of the US Congress passed the resolution on the impeachment inquiry process against Trump, which is the first time that the House of Representatives has held a plenum vote
on Trump's impeachment investigation.
At 20:30 Beijing time on Friday, the United States will release the October non-farm payrolls report, and the market expects an increase of 75,000.
Spot analysis: On November 1, the spot A00 aluminum quotation was 13980-14020 yuan / ton, the average price was 14000 yuan / ton, and the daily increase was 30 yuan / ton
.
Intraday spot premium is relatively high, the holder does not ship much, and the price is relatively high, I heard that a large customer released a long order and spot is not much and the planned purchase volume is not full, the middleman is still active, but the trading with the holder is more
deadlocked.
Because on Friday, the downstream considered a small amount of stock for the weekend, but in view of the higher prices, the downstream is still afraid of heights, and the overall purchase volume has not increased
significantly.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 66,196 tons on Friday, a daily decrease of 846 tons, down 12 consecutive days; On October 31, LME aluminum stocks were 959,050 tons, a daily decrease of 2,325 tons, a decline of 12 consecutive days
.
As of the week ended November 1, the Shanghai Futures Exchange aluminum inventory was 278736 tons, a weekly decrease of 16,101 tons
.
Main positions: the top 20 long positions of the main 1912 contract of Shanghai aluminum are 73890 lots, minus 93 lots per day, short positions are 84218 lots, daily increase of 1558 lots, net short positions are 10328 lots, daily increase of 1651 lots, more short increases, net space increases
.
During the day, the main force of Shanghai aluminum 1912 rebounded
.
Trump faces impeachment, the United States rises, the dollar is under pressure, Xiaoyi and Xuchang recently launched emergency measures for polluted weather, alumina, carbon transportation was affected, and some recycled aluminum companies faced shutdown, while the current electrolytic aluminum inventory dematerialization continued, supporting aluminum prices, but China's manufacturing PMI performance in October was weak, market pessimism rose, and electrolytic aluminum production capacity release expectations, pressure on aluminum prices
。 In terms of spot, the spot premium is relatively high, the holders do not ship much, and the price is relatively strong, the middleman is still active, but the trading with the holder is more deadlocked, and the downstream is considering a small amount of stock for the weekend, and there is still fear of
heights.
Technically, the trading volume of the main 1912 contract of Shanghai aluminum has increased significantly, and the daily MCAD red column increment is expected to be strong
in the short term.
