The main force of Shanghai aluminum opened high and down, and it is expected to recover slightly in the short term

Market focus: The delay in the vote on a new Brexit deal and the forced search for another extension of the Brexit deadline have increased the possibility of
a no-deal Brexit.
GDP grew 6 percent year-on-year in the third quarter, below the median estimate of 6.
1 percent, the lowest quarterly GDP on record since 1992
.
In September, China's refrigerator production was 7.
367 million units, a year-on-year increase of 3.
9%; The production of air conditioners was 17.
839 million units, a year-on-year increase of 10.
6%; Production of washing machines was 7.
205 million units, a year-on-year increase of 7.
6%; Production of color TVs was 19.
522 million units, down 4%
year-on-year.

Spot analysis: On October 21, the spot A00 aluminum quotation was 13940-13980 yuan / ton, the average price was 13960 yuan / ton, down 40 yuan / ton
per day.
Morning spot prices are relatively high, holders actively ship, in the context of active receipt of goods, traders trading and trading is more active, with the decline of aluminum, spot prices then fall, holders began to sell, shipments decreased, at this time the willingness of middlemen to receive goods began to rise, the market began to show a situation of receiving more and less, downstream manufacturers on demand procurement-based, a small amount of stocking, because the price is still holding a wait-and-see attitude, replenishment enthusiasm is not high
.

Warehouse receipt inventory: the total number of Shanghai aluminum warehouse receipts on Monday was 76,005 tons, a daily decrease of 6,752 tons; On October 18, LME aluminum stocks were 977125 tons, down 2,450 tons
per day.
As of the week ended October 18, aluminum stocks on the Shanghai Futures Exchange were 316466 tons, down 3,407 tons
.

Main positions: the top 20 long positions of Shanghai aluminum main 1912 contract are 80880 lots, a daily increase of 1949 lots, short positions are 84860 lots, a daily increase of 3116 lots, a net short position of 3980 lots, a daily increase of 1167 lots, both long and short increases, and net space increases
.

On October 21, the main force of Shanghai aluminum 1912 opened high and down.

Brexit uncertainty increased again, the pound fell to support the stabilization of the US dollar, while the downward pressure on the global economy increased, China's GDP growth rate was slightly reduced, market pessimism still exists, and there is pressure on aluminum prices, but the current electrolytic aluminum operating capacity remains low, electrolytic aluminum inventory dematerialization continues, while terminal home appliance production increases year-on-year, downstream demand has improved, which is positive
for aluminum prices 。 In terms of spot, the morning spot price is relatively high, the holder is actively shipping, as the spot price falls, the holder begins to sell, shipments are reduced, downstream manufacturers purchase on demand, a small amount of stocking, because the price is still held wait-and-see, replenishment enthusiasm is not high
.
Technically, the trading volume of the main 1912 contract of Shanghai aluminum has increased significantly, focusing on the support of the 13700 position, and it is expected to recover slightly in the short term
.