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On Thursday, the main 2010 contract of Shanghai aluminum fell slightly, with the highest 14415 yuan / ton and the lowest 14335 yuan / ton within the day, closing at 14340 yuan / ton, down 0.
10% from the previous trading day's closing price; In the external market, LME aluminum continued to fall, as of 15:00 Beijing time, 3-month Lun aluminum was reported at 1774.
5 US dollars / ton, down 0.
50%
on a daily basis.
Market focus: (1) The ECB said that the economic development since June has been broadly in line with the central bank's expectations, so the bank's "baseline forecast" still applies
.
Spot analysis: On September 10, spot A00 aluminum was reported at 14560-14600 yuan / ton, with an average price of 14580 yuan / ton, unchanged from yesterday.
Yangtze River Nonferrous Metal reported that the cargo holders actively shipped, the receiving sentiment was general, the downstream consumption was not good, and the transaction was still weak
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 135944 tons on Thursday, a daily decrease of 1961 tons; On September 9, LME aluminum stocks were 1526575 tons, a daily decrease of 2,850 tons, a 15-day
decline.
Main positions: the top 20 long positions of Shanghai aluminum main 2010 contract were 80,400 lots, with a daily increase of 878 lots, short positions of 89,450 lots, a daily increase of 471 lots, a net short position of 9,050 lots, a daily decrease of 407 lots, a long and short increase, and a net space decrease
.
Market research and judgment: On September 10, the main force of Shanghai aluminum in 2010 fell slightly
.
The spread of the global epidemic has hit the prospects of economic recovery, coupled with the intensification of tensions between China and the United States, and market risk sentiment has been suppressed; And the domestic electrolytic aluminum production capacity gradually recovered, the supply maintained an upward trend, limiting the upward momentum
of aluminum prices.
However, the current electrolytic aluminum inventory is still at a low level, and the accumulation range during the off-season is limited; At the same time, the downstream aluminum rod inventory still continues to degrade, currently reaching a low level in the year, and there is an expectation of recovery in future market demand, which has strong support for aluminum prices
.
Technically, the mainstream long position of the main 2010 contract of Shanghai aluminum increased its position and fell into range shock, and it is expected that the short-term shock will adjust
.
