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On Tuesday, the Shanghai aluminum main 2007 contract rushed back to the high, with the highest 12980 yuan / ton and the lowest 12770 yuan / ton within the day, closing at 12850 yuan / ton, up 0.
71% from the closing price of the previous trading day; In the external market, LME aluminum pulled back slightly, as of 15:00 Beijing time, 3-month Lun aluminum was reported at 1497 US dollars / ton, down 0.
20%
on a daily basis.
Market focus: (1) US pharmaceutical manufacturer Moderna announced a great success
in clinical trials of the new crown vaccine.
(2) China's seventh batch of scrap aluminum import quota imports in 2020 is 1,480 tons, and a total of 478159 tons
of hunger have been distributed so far this year.
Spot analysis: On May 19, spot A00 aluminum reported 13480-13520 yuan / ton, the average price was 13500 yuan / ton, up 350 yuan / ton
per day.
Spot premiums continued to rise from the previous day, market middlemen were enthusiastic about receiving goods, holders performed at high prices, and market transactions were very active
.
In the morning, a large household purchases normally, and the purchase plan is not fully completed
.
Due to the sharp rise in aluminum prices, the downstream intraday receiving sentiment was frustrated, and there were not many
purchases.
The overall transaction in East China was relatively good
.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 164355 tons on Tuesday, a daily decrease of 1226 tons, a continuous decline of 22 days; On May 18, LME aluminum stocks were 1414475 tons, a daily decrease of 5,200 tons
.
Main positions: the top 20 long positions of Shanghai aluminum main 2007 contract are 92360 lots, minus 1098 lots per day, short positions are 122643 lots, daily increase of 213 lots, net short positions are 30283 lots, daily increase of 1311 lots, more short increases, net space increases
.
Market research and judgment: On May 19, the main force of Shanghai aluminum 2007 rushed back to the
high.
Good news from the clinical trial of the new crown vaccine, market optimism heats up; At the same time, the current domestic downstream demand is strong, and the operating rate of processing enterprises continues to rise; And the recovery of electrolytic aluminum production capacity is slow, so the domestic electrolytic aluminum inventory continues to dematerialize, and aluminum prices still have upward momentum
.
However, overseas by the epidemic impact, coupled with the high ratio of Shanghai, resulting in the suppression of aluminum exports, coupled with the future release of electrolytic aluminum production capacity is expected, the pressure on aluminum prices will gradually increase
.
In terms of spot, the enthusiasm of market middlemen to receive goods has not decreased, the performance of cargo holders is strong, and a large household purchases normally in the morning, and the procurement plan has not been fully completed
.
Technically, the main 2007 contract of Shanghai aluminum is expected to test the 13,000 mark, and it is expected to fluctuate
at a short-term high.
