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On Wednesday, the main 2009 contract of Shanghai aluminum ran in shocks, with the highest 14305 yuan / ton and the lowest 14200 yuan / ton within the day, closing at 14235 yuan / ton, up 0.
11% from the closing price of the previous trading day; As of 15:00 Beijing time, 3-month Lun aluminum was reported at $1782.
5 / ton, down 0.
20%
on a daily basis.
Market Focus: (1) U.
S.
President Donald Trump tweeted that senior Democratic lawmakers want to meet with him to discuss
economic relief measures related to the coronavirus response.
(2) The yield on the 10-year Treasury note posted its highest gain since June, rising 0.
648%.
Spot analysis: On August 12, spot A00 aluminum was reported at 14430-14470 yuan / ton, with an average price of 14450 yuan / ton, down 20 yuan / ton
per day.
Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 124452 tons on Wednesday, a daily increase of 3,885 tons, an increase of 7 consecutive days; On August 11, LME aluminum stocks were 1617175 tons, down 4,225 tons
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 2009 contract are 74606 lots, minus 1720 lots per day, short positions are 85829 lots, daily minus 1704 lots, net short positions are 11223 lots, daily increase of 16 lots, long and short are reduced, net short increases
.
Market research and judgment: On August 12, the main force of Shanghai aluminum 2009 oscillated operation
.
The lack of consensus on the new round of stimulus policies in the United States will cause resistance to the recovery of the US economy, the US dollar index stops falling and rises, and the conflict between China and the United States intensifies, resulting in a return to risk aversion in the market; At the same time, the domestic electrolytic aluminum production capacity has gradually recovered, and the downstream demand has gradually weakened, and the Shanghai aluminum inventory has rebounded slightly in recent days, which has put greater pressure
on aluminum prices.
However, global monetary policy remained accommodative, and China's economic data performed strongly; And the overall inventory is still at a low level, and the demand in the future market is expected to pick up, and the pressure on the supply side is still limited
.
Technically, the main 2009 contract of Shanghai aluminum shrinks and reduces positions and trades weakly, and the bottom divergence of the daily KDJ indicator is expected to continue to adjust
in the short term.
In terms of operation, it is recommended to operate lightly in the range of 14180-14380 yuan / ton, and the stop loss is 70 yuan / ton
each.
