The main force of Shanghai aluminum rose sharply, and the overall trading volume of the market was weak

Market focus: (1) According to Mysteel statistics: the export volume of electrolytic aluminum in China's main regions (8/15-8/22) was about 136,000 tons, a decrease of 04,000 tons from the previous period and 128,000 tons
in the same period last year.
By region, inventories in Foshan and Changzhou increased slightly; The outbound volume in Wuxi and Gongyi areas decreased significantly; Shipments in Shanghai, Hangzhou, Tianjin, Shenyang and Chongqing remained stable
.

Spot analysis: SMM spot A00 aluminum reported 20340-20380 yuan / ton, the average price was 20360 yuan / ton, up 260 yuan
daily.
Changjiang Nonferrous Metal reported that the cargo holders actively shipped and realized the goods at high prices, the receiving party was afraid of high prices and pressured prices, the trading atmosphere was general, and the overall transaction was weak
.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 83,440 tons, a daily decrease of 1,322 tons; LME stocks were 1300250 tonnes, down 4,700 tonnes
per day.
Main positions: the top 20 long positions in the main 2110 contract of Shanghai aluminum held 179591 lots, with a daily increase of 28134 lots, a short position of 174425 lots, a daily increase of 31741 lots, a net long position of 5166 lots, a daily decrease of 2829 lots
.
Long and short increase, net long decrease
.

Market research: This week, the market will usher in a series of important data such as the PMI of China, the United States and Europe, among which the US non-farm payrolls report for July is the top priority, which has a key guiding effect on the future policy direction of
the Fed.
The focus of the day is on the US Markit manufacturing PMI data
.
At present, the fundamentals of the aluminum market are still strong, and under the background of the intensification of "power shortage" and the tightening of "dual control", the production reduction of electrolytic aluminum in the third quarter is expected to be further expanded, and the landing time of new projects will be further delayed
.
Constrained by transportation conditions, the tight supply of electrolytic aluminum in the Central Plains will continue
.
In addition, the current domestic primary aluminum market consumption is still good, under the change of supply and demand pattern, the future market aluminum price is still optimistic
.
Focus on macro sentiment changes
in the short term.
Technically, the AL2110 contract hourly MACD indicator DIFF crosses the upside with the DEA, and the red bar expands
.
In operation, it is recommended to sell high and low in the range of 20000-20800, with a stop loss of 250 points
each.