The main force of Shanghai aluminum stopped falling and rebounded, and fundamental support gradually increased

Market focus, China's foreign trade exports from January to July were 9.
48 trillion yuan, an increase of 6.
7%, and imports were 7.
93% trillion yuan, an increase of 1.
3%; China's trade surplus in July was 310.
26 billion yuan, with an estimated surplus of 310 billion yuan
.
According to data from the General Administration of Customs, China exported 487,000 tons of unwrought aluminum and aluminum products in July, compared with 506,000 tons in June, and exported 3.
47 million tons from January to July, an increase of 7.
4%
from 3.
23 million tons in the same period last year.

Spot analysis, on August 8, spot A00 aluminum quotation 13860-13900 yuan / ton, the average price of 13880 yuan / ton, down 20 yuan / ton
from the previous trading day.
In the morning, the holders of goods shipped positively, but the quotation was firm, traders and middlemen trading is more active, but because a large market received less than the previous day, so the overall market transaction is slightly less than the previous day, with the rise of the futures aluminum, the quotation of the holder also rises, the middleman began to be optimistic about the future market, the receiver increased significantly, but at this time due to the high market price, the actual transaction performance was deadlocked, and the transaction activity fell
.
The downstream still does not show an active receiving state, and on-demand procurement is mainly cold
.

Warehouse receipt inventory, Shanghai aluminum warehouse receipts totaled 140415 tons on Thursday, a daily decrease of 201 tons; On August 7, LME aluminum stocks were 1009925 tons, down 7,775 tons
per day.

The main position, the top 20 long positions of the main 1910 contract of Shanghai aluminum are 69737 lots, an increase of 1521 lots per day, short positions are 94872 lots, a daily increase of 4475 lots, a net short position of 25135 lots, a daily increase of 2954 lots, long and short increases, net short increases
.

During the day, the main 1910 contract of Shanghai aluminum stopped falling and rebounded
.
The Sino-US trade war has escalated, the market has intensified concerns about the economic situation, coupled with the continuous decline in upstream oxidation prices, and the recovery of profits of midstream electrolytic aluminum plants, it is expected that production will increase, which will be negative for aluminum prices in the short term, but aluminum inventories are in the destocking stage, and August gradually bid farewell to the off-season, and the support for aluminum will gradually increase
.
In terms of spot, today's holders are actively shipping, but the quotation is firm, traders and middlemen are more active, middlemen began to be optimistic about the future market, and the number of receivers increased significantly, but at this time, due to the high market price, the actual transaction performance was deadlocked
.
Technically, the main 1910 contract of Shanghai aluminum returned above the 10-day moving average, and short-term volatility is expected to be strong
.