The main force of Shanghai aluminum continued to fall, and the short-term shock was weak

Market focus: On Friday, the United States announced tariffs
on $550 billion of Chinese imports.
China decided to impose tariffs on about $75 billion of imports originating in the United States, as well as reinstating tariffs
on automobiles and parts originating in the United States.
Vice Premier Liu He said at the 2019 Chongqing Wisdom Expo: "We are willing to solve problems through consultation and cooperation with a calm attitude, and resolutely oppose the escalation of the
trade war.
" According to Zhuochuang data, China's automotive aluminum volume in July 2019 was 234,100 tons, down 5.
01% from the previous month, down 10.
23% from the same period last year, and the amount of automotive aluminum in the same period last year was 260,700 tons, the year-on-year decline was narrowed
.

Spot analysis: On August 26, the spot A00 aluminum quotation was 14230-14270 yuan / ton, and the average price was 14250 yuan / ton, down 60 yuan / ton
from the previous trading day.
The market supply is more sufficient, the price difference between the current month and the next month's ticket is within 10 yuan / ton, although the carrier shipment is more active, but the performance is strong, although the middleman has a strong willingness to receive the goods, but the receiving price is difficult to be recognized by the holder, the two sides are deadlocked, the buyer and seller inquiry offer activity is high but the actual transaction is average
.
Due to the decline in aluminum prices and the demand for replenishment, a small amount of replenishment downstream was carried out in the day, but it was still mainly purchased on demand, and the enthusiasm for receiving goods was not significantly high
.

Warehouse receipt inventory: the total amount of Shanghai aluminum warehouse receipts on Monday was 145651 tons, a daily decrease of 1050 tons; On August 23, LME aluminum stocks were 935,200 tons, a daily decrease of 6,150 tons
.
As of the week ended August 23, the Shanghai Futures Exchange aluminum inventory was 379007 tons, a weekly decrease of 8,656 tons
.

Main positions: the top 20 long positions of Shanghai aluminum main 1910 contract 101947 lots, minus 3423 lots per day, short positions 119320 lots, daily minus 4227 lots, net short positions 17373 lots, daily minus 804 lots, long and short are reduced, net space is reduced
.

On August 26, the main 1910 contract of Shanghai aluminum continued to fall
.
Sino-US trade frictions have intensified again, market pessimism has heated up, putting pressure on aluminum prices, but China has expressed opposition to the escalation of the trade war, coupled with upstream alumina production cuts, price recovery, and midstream electrolytic aluminum inventory de-stocking, which has supported aluminum prices
.
In terms of spot, the market supply is relatively sufficient, although the carrier shipments are more active, but the performance is strong, although the middleman has a strong willingness to receive the goods, but the receiving price is difficult to be recognized by the holders, the two sides are deadlocked, and a small amount of replenishment downstream is still on-demand, but it is still
mainly based on on-demand procurement.
Technically, the daily MACD red column of the main 1910 contract of Shanghai aluminum is shortened, and the short-term shock is expected to be weak
.