The main force of Shanghai aluminum opened high and upward, and short-term volatility is expected to be strong

Market focus: The US ADP employment increased by 195,000 in August, the highest increase since April this year, and the third consecutive month of month-on-month growth; the US ISM non-manufacturing PMI rose to 56.
4 in August, 54 expected, 53.
7
previously.
At 20:30 Beijing time on Friday, the United States will release the August non-farm payrolls report
.
China's domestic bauxite consumption in August was about 6.
86 million tons, down 3.
0% month-on-month and about 17.
6%
year-on-year.
From January to August this year, China's domestic bauxite consumption was about 61.
1 million tons, a decrease of about 6.
6%
over the same period last year.

Spot analysis: On September 6, the spot A00 aluminum quotation was 14400-14440 yuan / ton, the average price was 14420 yuan / ton, a daily increase of 20 yuan / ton
.
Intraday market performance supply and demand are weak, a large household procurement is not much, because the bid does not meet the market psychological price, although the high price of the holder actively ship, but because the middleman does not recognize the price, the actual transaction is very deadlocked, some traders are optimistic about the future market, although they have the willingness to receive goods, but the bid is low, and the buyers and sellers do not have many
transactions.
The downstream performance is wait-and-see, the enthusiasm for receiving goods is not obvious, and the overall on-demand procurement is the mainstay
.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 136988 tons on Friday, a daily decrease of 727 tons; On September 5, LME aluminum stocks were 918925 tons, a daily decrease of 3,450 tons
.
As of the week of September 6, the aluminum inventory of the Shanghai Futures Exchange was 352399 tons, a weekly decrease of 9,578 tons, a decrease of 5 consecutive weeks
.

Main positions: the top 20 long positions of Shanghai aluminum main 1910 contract are 82387 lots, a daily increase of 101 lots, short positions are 98968 lots, daily minus 1840 lots, net short positions are 16581 lots, daily minus 1941 lots, more increase and short, net space decreases
.

On September 6, the main force of Shanghai aluminum 1910 opened high.

China and the United States agreed to hold consultations in early October, while China is making solemn negotiations on the cancellation of further tariffs, market optimism is heating up, which is positive for aluminum prices, while upstream alumina prices stabilize and rise, midstream electrolytic aluminum plant production declines, electrolytic aluminum inventory dematerialization continues, and the positive for aluminum prices gradually strengthens, but the performance of terminal demand is weak, the lack of substantial recovery driven, aluminum prices upward momentum is slightly weaker
.
In terms of spot, the market performance of supply and demand is weak, some traders are optimistic about the future market, although they have the willingness to receive goods, but the bid is low, buyers and sellers do not have many transactions, downstream performance is wait-and-see, and the enthusiasm for receiving goods is not obvious
.
Technically, the main 1910 contract of Shanghai aluminum increased its long position significantly, and the daily MACD green column shortened, and the short-term shock is expected to be strong
.