Market worries remain, and aluminum shocks rose slightly

Market focus: (1) On Monday, the Federal Reserve said that in order to ensure market operation and monetary policy transmission, it will buy U.
S.
Treasuries and MBS
on demand without limit.

Spot analysis: On March 24, spot A00 aluminum was reported at 11200-11240 yuan / ton, with an average price of 11220 yuan / ton, unchanged from the previous day
.
Morning holders shipments are more active, the market supply is loose, intermediaries transactions are acceptable, with the rise of aluminum in the future, holders shipments are not as good as in the morning, middlemen at this time willingness to receive goods, but the overall transaction heat falls, the situation is similar
to the previous day.
Downstream intraday on-demand delivery is the mainstay, and the receipt of goods is acceptable
.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 294013 tons on Tuesday, an increase of 6,307 tons per day; On March 23, LME aluminum stocks were 1076050 tons, an increase of 6,125 tons
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 2005 contract were 88449 lots, minus 3198 lots per day, short positions were 98622 lots, daily minus 1124 lots, net short positions were 10173 lots, daily increase of 2074 lots, long and short were reduced, and net space increased
.

During the day, the main force of Shanghai aluminum in 2005 fluctuated slightly
.
The global epidemic continues to spread, the epidemic in Europe and the United States shows a spreading trend, and market worries still exist; At the same time, the overall inventory of London and Shanghai is still showing a growth trend, and the Shanghai aluminum inventory has fallen in recent days, because the aluminum export window has opened, the inventory of London aluminum has rebounded sharply, and the price of aluminum still lacks upward momentum
.
However, the Fed's unlimited QE became the most aggressive intervention to date; And Hubei Province will gradually lift the control of pipelines from Hubei, and the effect of China's epidemic prevention and control is significantly conducive to the restoration of economic vitality and supports aluminum prices
.
In terms of spot, the morning carrier shipments are more active, the market supply is loose, the transaction between middlemen is acceptable, and the downstream intraday on-demand goods are mainly taken, and the receipt of goods is acceptable
.
Technically, the main 2005 contract transaction volume of Shanghai aluminum is shrinking, and the mainstream bulls have increased their positions greatly, and it is expected that the short-term shock adjustment
.