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On September 30, the main 2011 contract of Shanghai aluminum was hindered on Wednesday, with the highest intraday 14,320 yuan / ton, the lowest 14,105 yuan / ton, and the closing 14,145 yuan / ton, down 0.
42% from the previous trading day's close; As of 15:00 Beijing time, 3-month Lun aluminum was reported at 1768.
5 US dollars / ton, down 0.
56%
on a daily basis.
Market focus: (1) U.
S.
House Speaker Pelosi said she hoped to reach a new crown epidemic assistance agreement with the White House, and she had previously met with Treasury Secretary Mnuchin for about 50 minutes and did not follow up consultations to plan
.
(2) Guinea AGB2A plans to double the monthly production capacity of bauxite to 400,000 tons in November this year, with a target output of about 1.
5 million tons from this year and about 5 million tons next year
.
Spot analysis: On September 30, spot A00 aluminum was reported at 14660-14700 yuan / ton, with an average price of 14680 yuan / ton, down 50 yuan / ton
per day.
Changjiang Nonferrous Metal reported that a small number of holders dumped goods at low prices, received few goods, and only a small number of traders participated in the transaction, and the overall transaction was flat
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 106098 tons on Wednesday, a daily increase of 16261 tons; On September 29, LME aluminum stocks were 1466925 tons, a daily decrease of 6,100 tons, a continuous decline of 29 days
.
Main positions: the top 20 long positions of Shanghai aluminum main 2011 contract were 64456 lots, minus 2452 lots per day, short positions were 73032 lots, daily minus 1889 lots, net short positions were 8576 lots, daily increase of 563 lots, long and short were reduced, net short increased
.
On September 30, the upward movement of Shanghai's main force 2011 encountered obstacles
.
In the United States, consumer confidence rebounded in September, market risk sentiment recovered, and the dollar index fell under pressure; At the same time, the market demand performance is acceptable, the market is willing to stock up before the holiday, and the current inventory in both cities is showing a downward trend and the decline is expanding, supporting the strong operation
of aluminum prices.
However, the new production capacity of electrolytic aluminum in China is gradually released, and the high profit also stimulates the release of idle capacity; In addition, the opening of the import profit window stimulates the continuous inflow of overseas goods and limits the space
above the aluminum price.
Technically, the main 2011 contract of Shanghai aluminum contraction and position reduction closed long shadow black line, facing the pressure of long profit-taking, and it is expected that the short-term shock adjustment
.
The range is 13900-14400 yuan / ton
.
