Core Viewpoint - The adjustment of mineral transfer registration authority by Shanxi Province's Natural Resources Department has boosted market sentiment, leading to increased trading activity in the alumina market, particularly in the main contract ao2509, which saw a rise of over 4% [1] Group 1: Market Activity - The main alumina contract ao2509 experienced a trading volume increase of 123,000 lots, reaching 296,000 lots, while open interest decreased by 18,700 lots to 96,100 lots [1] - The long-short positions in the top 20 rankings for the main alumina contract showed a reduction in both long and short positions, with a significant decrease in short positions by 13,800 lots to 55,280 lots [1] - The long-short ratio increased from 0.89 to 1.01, indicating a shift in market sentiment towards a more bullish outlook [1] Group 2: Position Changes - Guotai Junan Futures increased its long positions by 664 lots while reducing short positions by 4,016 lots, resulting in a net short position reduction to 2,788 lots [3] - CITIC Futures expanded its long position by over 2,000 lots, transitioning from a net short position of 203 lots to a net long position of 2,696 lots [3] - Other firms like Yong'an Futures and Huatai Futures also adjusted their positions, with some showing a shift from short to long, reflecting expectations of continued upward movement in prices [3] Group 3: Supply and Demand Dynamics - Despite the positive market sentiment, reports indicate that domestic mines are unable to resume production, which may limit the impact of the policy change on alumina supply [4] - The actual effect of the policy adjustment on local alumina production is expected to be limited, with new production capacities and the resumption of previously reduced capacities likely to lead to an increase in output [4] - The anticipated increase in alumina supply may outpace demand growth, leading to expectations of oversupply in the market [4]
氧化铝期价大涨 多空持仓比值回升
Wen Hua Cai Jing·2025-08-12 12:37