The main force of Shanghai aluminum is under pressure to the downward trend, and the actual transaction in the market is not much

Market focus: The US Chamber of Commerce Consumer Confidence Index actually released 125.
1 in September, significantly lower than the expectation of 133 and the previous value of 134.
2
.
Since September 23, many cities in Hebei, Shanxi, Shandong and Henan have issued frequent warnings of heavy pollution weather, and some aluminum processing plants and recycled aluminum enterprises are facing production
reductions.
In August, the total investment in power grid projects was 237.
8 billion yuan, a cumulative decrease of 15.
2% year-on-year; The total investment in power supply projects was 153.
3 billion yuan, a cumulative increase of 5.
2%
year-on-year.

Spot analysis: On September 25, the spot A00 aluminum quotation was 14260-14300 yuan / ton, the average price was 14280 yuan / ton, down 40 yuan / ton
per day.
In the morning, the willingness of the holder to ship is general, the middleman receives the goods more actively, although the transaction stalemate has not improved significantly, but the overall transaction of the two sides is acceptable, with the decline of aluminum, the spot price has fallen, given that the holder's quotation did not give a significant concession, at this time, although the shipper has increased but the middleman has performed wait-and-see, the actual transaction is not much
.
Downstream manufacturers prepare goods on demand, and the receiving status is not as good as the previous two days
.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 105185 tons on Wednesday, a daily decrease of 853 tons; On September 24, LME aluminum stocks were 899925 tons, an increase of 4,300 tons
per day.

Main positions: the top 20 long positions of the main 1911 contract of Shanghai aluminum are 71025 lots, minus 1870 lots per day, 81493 short positions, 2423 lots per day, net short positions 10468 lots, daily minus 553 lots, long and short are reduced, and net space is reduced
.

On September 25, the main force of Shanghai aluminum 1911 came under pressure to the downside
.
U.
S.
economic data is not performing well, the dollar is weakening, superimposed electrolytic aluminum inventories continue to dematerialize, and the downstream stockpile before the holiday increased, supporting aluminum, but downstream due to the recent concentrated arrival, aluminum rod inventory has risen, coupled with overall demand is still weak, aluminum prices are weak
.
In terms of spot, the willingness of the holder to ship in the morning is general, the middleman receives the goods more actively, the spot price falls, the holder's quotation does not give a significant concession, the actual transaction is not much, the downstream manufacturers prepare goods on demand within the day, and the receiving status is not as good as the previous two days
.
Technically, the main 1911 contract of Shanghai aluminum is longer and the upper shadow, and the daily MACD green column is growing, and the short-term shock is expected to be weak
.