The main force of Shanghai aluminum opens low and downward, and the downward momentum is expected to slow down

Market focus: The final gross domestic product (GDP) in the United States grew at an annualized quarterly rate of 2.
0% in the second quarter, in line with expectations
.
At 20:30 in the evening, the US will publish personal income and expenditure for August, as well as the PCE index, which is the Fed's preferred measure of inflation
.
From January to August, the total profit of industrial enterprises above designated size in the country fell by 1.
7% year-on-year, of which the profit growth of major industries such as automobiles, electronics, and nonferrous metals improved
.

Spot analysis: On September 27, the spot A00 aluminum quotation was 14010-14050 yuan / ton, the average price was 14030 yuan / ton, down 160 yuan / ton
per day.
Although the middleman received goods positively, due to the large fluctuation of spot prices, the transaction between buyers and sellers was slightly deadlocked, and because the National Day holiday was approaching, the sentiment of traders and market makers was not strong, and the trading activity was not as active as at the beginning of the
week.
In addition, due to the sharp decline in prices, superimposed on the demand for National Day preparation, there are some pre-holiday stocks
downstream.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 102961 tons on Friday, a daily decrease of 1494 tons; On September 26, LME aluminum stocks were 910575 tons, an increase of 3,175 tons
per day.
As of the week ended September 27, the Shanghai Futures Exchange aluminum inventory was 318988 tons, a weekly decrease of 19,058 tons
.

Main positions: the top 20 long positions of the main 1911 contract of Shanghai aluminum are 63246 lots, minus 5723 lots per day, 71556 short positions are reduced, 7234 lots are minus 7234 lots, net short positions are 9310 lots, daily minus 1511 lots, long and short are reduced, and net space is reduced
.

On September 27, the main force of Shanghai aluminum 1911 opened low and down.

The U.
S.
economic data is strong, the market confidence in the U.
S.
economy has increased, the dollar is strong, coupled with the recent concentrated arrival of aluminum rods, coupled with the downstream pre-holiday stocking willingness to fade, inventory has increased, aluminum prices are weak, but by the low output of electrolytic aluminum plants, electrolytic aluminum inventories continue to degrade, and environmental protection production restrictions, the downward momentum of aluminum prices is expected to slow down
.
In terms of spot, although the middleman received goods positively, due to the large fluctuation of spot prices, the transaction between buyers and sellers was slightly deadlocked, and because the National Day holiday was approaching, the sentiment of traders and market makers was not strong, and some pre-holiday stocks were in the downstream
.
Technically, the main 1911 contract of Shanghai aluminum has a long shadow, running below the moving average group, and is expected to run in a short period of shock
.