The main force of Shanghai aluminum rushed back down, and the willingness of the market to receive goods was general

Market focus: (1) The cumulative number of confirmed cases in the United States exceeded 180,000, and Trump reminded that the next two weeks are "very painful"
.
(2) As of March 27, the domestic alumina port inventory was 465,000 tons, a weekly increase of 10,000 tons; as of March 31, the price of Guiyang alumina (first-class) was 2,340 yuan / ton, a weekly decrease of 90 yuan / ton
.

Spot analysis: On April 1, spot A00 aluminum reported 11500-11540 yuan / ton, the average price was 11520 yuan / ton, up 40 yuan / ton
per day.
The recent market spot easing situation is not as good as last week, some upstream electrolytic aluminum plants shipped less, the performance is reluctant to sell, the supply of goods in the hands of traders is slightly tight, the intraday receipt is very positive, the price of the holder is obvious, in addition, a large account began this month's procurement plan within the day, on the whole, intraday traders are acceptable
.
Downstream purchases are still normal within the day, and the willingness to receive goods is average
.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 305203 tons on Wednesday, a daily decrease of 724 tons; On March 31, LME aluminum stocks were 1148750 tons, down 2,025 tons
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 2006 contract were 88559 lots, a daily increase of 5910 lots, short positions 101123 lots, a daily increase of 5565 lots, a net short position of 12564 lots, a daily decrease of 345 lots, long and short reduction, net space reduction
.

The global epidemic continues to spread, of which the number of confirmed cases in the United States is still soaring, Trump reminded that the next two weeks will be painful, the epidemic has led to the suspension of overseas enterprises and increased production, the downstream demand outlook is worrying, and the inventory of Shanghai and Lun has increased in recent days; At the same time, domestic alumina plants have resumed work one after another, and the price decline has weakened the cost support, and the pressure on aluminum prices is greater
.
However, China's State Council has decided to issue another batch of special local government debt quotas in advance, and the United States plans to push another $2 trillion in infrastructure construction; At the same time, the current aluminum price fell below the cost line, and refiners reduced production and storage expectations, which supported aluminum prices
.
In terms of spot, some upstream electrolytic aluminum plants shipped less, the performance was reluctant to sell, the supply of goods in the hands of traders was slightly tight, the intraday receipt was very positive, the price of the holder was obvious, and the downstream intraday purchase
was still normal.
Technically, the main 2006 contract daily KDJ indicator of Shanghai aluminum is dead, and the mainstream short position increase is large, and the short-term shock is expected to be weak
.