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On Monday, the main 2201 contract of Shanghai aluminum fluctuated upward, with the highest 19190 yuan / ton, the lowest 18625 yuan / ton, and the close at 19015 yuan, down 1.
37% from the previous trading day's closing price; LME aluminum opened high, as of 15:00 Beijing time, 3-month Lun aluminum was reported at 2732 US dollars / ton, up 1.
56%
from the previous trading day.
Market focus: (1) As of November 29, according to Mysteel statistics, China's electrolytic aluminum social inventory was 993,000 tons, down 23,000 tons from last Thursday (November 25) and 597,000 tons
in the same period last year.
In terms of regions, Shanghai, Wuxi, Hangzhou, Foshan and Hai'an contributed the main decline, while the inventory increase in Gongyi was relatively obvious
.
Spot analysis: SMM spot A00 aluminum reported 18790-18830 yuan / ton, the average price was 18810 yuan / ton, down 430 yuan
from the previous trading day.
Warehouse receipt inventory: Shanghai aluminum warehouse receipt 212327 tons, daily decrease of 1 ton; LME aluminum stocks were 915,850 tons, a daily decrease of 3,375 tons
.
Main positions: the top 20 long positions of Shanghai aluminum 2201 contract 125157 lots, -3759 lots, short positions 125780 lots, -2348 lots, net long positions 623 lots, -1041 lots
.
Market research: The emergence of the new crown variant virus in South Africa, investors are worried that the new variant virus will trigger a new round of epidemic transmission and lead to a return to lockdown, and the market sentiment is more cautious
.
Near the heating season and the Winter Olympics, Henan, Shanxi, Shandong, Inner Mongolia upstream alumina enterprises and downstream aluminum processing enterprises have received the heating season production restriction notice, it is expected that this round of heating season production restriction impact on the overall aluminum industry: aluminum processing> alumina > electrolytic aluminum
.
At the same time, the recent stage of aluminum market electrolytic aluminum accumulation destocking repeatedly, the latest data shows that electrolytic aluminum destocked again, outbound data has improved
month-on-month.
However, the current raw material price has been adjusted down at a high level, and the cost of electrolytic aluminum has weakened, which has put certain pressure on aluminum prices, and short-term aluminum prices or wide fluctuations are dominant
.
