The main force of Shanghai aluminum rushed back down, and the downstream performance is still light

Market focus: The US 2-year and 10-year Treasury yield curves inverted for the first time since 2007, indicating that the world's largest economy may be heading for recession, and market risk aversion has increased
.
At 20:30 Beijing time on Thursday, investors will welcome the US retail sales data for July, and the market expects growth to be lower than in
June.
According to the National Bureau of Statistics announced on the 14th, the output of primary aluminum in July was 2.
98 million tons, down 2.
0% year-on-year; From January to July, the output of primary aluminum was 20.
49 million tons, an increase of 1.
6%
year-on-year.

Spot analysis, on August 15, spot A00 aluminum quotation of 14170-14210 yuan / ton, the average price of 14190 yuan / ton, up 40 yuan / ton
from the previous trading day.
In the morning, the transaction between Shanghai and tin is poor, the willingness of middlemen to receive goods is not strong, although the holders actively ship but few receivers, in the later period, with the rise in aluminum prices, the market is generally strong on the futures aluminum, coupled with a large household began to actively purchase, and the bid is better, the market transaction heat gradually rising, the holders of goods are very active, the middlemen began to premium the goods, buyers and sellers traded actively, and some traders even began to show the willingness to
sell stockpiles.
However, the downstream performance is still light, there is no significant procurement, and the fear of heights is obvious
.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 149478 tons on Thursday, an increase of 12,823 tons per day; On August 14, LME aluminum stocks were 984,250 tons, a daily decrease of 50 tons
.

Main positions: the top 20 long positions of Shanghai aluminum main 1910 contract 104688 lots, an increase of 8297 lots per day, short positions 123246 lots, a daily increase of 8336 lots, a net short position of 18558 lots, a daily increase of 39 lots, long and short increases, net space increases
.

On August 15, the main 1910 contract of Shanghai aluminum soared and fell
.
The inversion of US 2-year and 10-year Treasury yields suggests that the US economy is heading for recession, the market's concerns about the economic downturn have increased, and the rising risk aversion has pushed the dollar higher, while upstream alumina prices have continued to be low, putting pressure on aluminum prices, but midstream electrolytic aluminum inventories continue to deteriorate, and downstream aluminum rod inventories have declined, and prices have rebounded, which is positive for aluminum prices
.
In terms of spot, the transaction between Shanghai and tin in the morning was poor, and in the later period, with the rise in aluminum prices, the market was generally optimistic about aluminum in the future, coupled with a large household began to actively purchase, and the bid was better, the market transaction heat gradually rose, but there was no significant procurement downstream, and the fear of heights was obvious
.
Technically, the main 1910 contract of Shanghai aluminum is longer and the upper shadow, and the daily MACD red column is slightly increased, and short-term volatility is
expected.