Shanghai aluminum shock decline, short-term or wide range of finishing mainly

Market focus: (1) US President Joe Biden said that it will be a few more weeks before the vaccine protects against the new variant, the United States does not need lockdowns and shutdowns this winter, and additional travel restrictions
are not expected now.

Spot analysis: SMM spot A00 aluminum reported 18840-18880 yuan / ton, the average price was 18860 yuan / ton, up 50 yuan
from the previous trading day.

Warehouse receipt inventory: Shanghai aluminum warehouse receipt 216003 tons, daily increase of 3676 tons; LME aluminum stocks 909225 tons, a daily decrease of 6625 tons
.

Main positions: the top 20 long positions of Shanghai aluminum 2201 contract 120892 lots, -2994 lots, short positions 125995 lots, +1086 lots, net short positions 5103 lots, net long to net short
.

Market research and judgment: the market re-weighed the impact of the new virus, the dollar continued to strengthen, and risk sentiment recovered
.
In the recent stage, the reduction of aluminum production and the resumption of production are parallel, and the recent energy consumption policies in various places are facing the end, and the market has certain expectations for policy regulation, while the latest data shows that electrolytic aluminum has gone to storage again, and short-term consumption has ushered in an improvement
.
However, the current alumina price continues to decline, the cost of electrolytic aluminum weakens, forming a certain pressure on aluminum prices, short-term aluminum prices or wide fluctuations
.