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On Thursday, the main 2105 contract of Shanghai aluminum fluctuated slightly, with the highest 17550 yuan / ton and the lowest 17405 / ton within the day, closing at 17525 yuan / ton, up 0.
37% from the closing price of the previous trading day; LME aluminum rose slightly, as of 15:00 Beijing time, 3-month Lun aluminum was reported at $2269 / ton, up 0.
42%
per day.
Market focus: (1) Fed March meeting minutes, the US economy is still far from achieving the goal
of a longer cycle.
Most Fed officials believe inflation risks are broadly balanced
.
(2) US President Joe Biden: The infrastructure plan will "certainly" be adjusted
.
Inaction on infrastructure issues cannot be allowed to be allowed
.
Spot analysis: On April 8, spot A00 aluminum was reported at 17450-17490 yuan / ton, with an average price of 17470 yuan / ton, up 80 yuan / ton
per day.
Changjiang Nonferrous Metal reported that the enthusiasm for receiving goods is high, the willingness to purchase is improved, the enthusiasm of large households to receive goods is acceptable, and the transaction performance is active
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 157585 tons on Thursday, an increase of 4,404 tons per day; On April 7, LME aluminum stocks were 1860125 tons, a daily decrease of 22,150 tons
.
Main positions: the top 20 long positions of Shanghai aluminum main 2105 contract 119353 lots, a daily decrease of 4252 lots, a short position of 131554 lots, a daily decrease of 3259 lots, a net short position of 12201 lots, a daily increase of 993 lots, both long and short reduction, net short increase
.
Market research and judgment: On April 8, Shanghai aluminum 2105 oscillated slightly
.
The Fed pledged to continue providing monetary policy support until the U.
S.
economic recovery is more solid, and the dollar index retreated
, compounded by strong employment data, rising risk sentiment.
There is news that the National Reserve Bank plans to collect aluminum ingots before selling, raising concerns about increased supply; At present, the speed of domestic production capacity launch is slow, and the dual control policy of energy consumption in Baotou in Inner Mongolia also affects
output.
Recently, aluminum ingot inventories have shown a downward trend, and aluminum inventories in Japanese ports have also declined, and the recent increase in downstream procurement willingness has strengthened the support for aluminum prices
.
Technically, the center of gravity of the main 2105 contract of Shanghai aluminum has gradually moved upward, and the mainstream bulls have reduced their positions greatly, and it is expected that the market volatility will be strong
.
