The main shock of Shanghai aluminum rose slightly, and the market risk sentiment eased

Market focus, on October 25, the leaders of the two sides of the Chinese and US trade called to confirm that the technical consultations on some texts were basically completed, and will call again in the near future
.
British Prime Minister Boris Johnson has said he will restart the suspended Brexit deal legislative process
if the lower house of parliament votes to hold a snap general election on December 12.
In September 2019, China exported a total of 100,300 tons of aluminum foil products, a slight increase of 2.
27% month-on-month and a year-on-year decrease of 15.
08%; From January to September, China's total aluminum foil exports were 981,800 tons, a small increase of 2.
55% over the same period last year, and the growth rate slowed down
.

Spot analysis, on October 28, spot A00 aluminum quotation 13980-14020 yuan / ton, the average price of 14000 yuan / ton, a daily increase of 10 yuan / ton
.
Intraday shipments of cargo holders are still small, intermediaries are still active, the trading of both sides is acceptable, and the premium remains high, indicating that the spot market is tight
.
The downstream is still mainly based on on-demand goods, and there is no large amount of replenishment, and it has a wait-and-see attitude
towards high premiums.

Warehouse receipt inventory, the total number of Shanghai aluminum warehouse receipts on Monday was 68,919 tons, a daily decrease of 797 tons, a drop of 8 consecutive days; On October 25, LME aluminum stocks were 966,200 tons, a daily decrease of 2,325 tons, and a drop of 8 consecutive days
.
As of the week ended October 25, aluminum inventories on the Shanghai Futures Exchange were 294837 tons, down 21,629 tons
.

The main position, the top 20 long positions of the main 1912 contract of Shanghai aluminum are 77780 lots, 716 lots per day, short positions are 84495 lots, a daily increase of 534 lots, net short positions are 6715 lots, a daily increase of 1250 lots, more short increases, net space increases
.

During the day, the main force of Shanghai aluminum 1912 fluctuated slightly
.
Brexit is once again hindered, the US economic data exceeds expectations, the dollar recovers, while global economic pessimism continues, and the fourth quarter of electrolytic aluminum production capacity launch, pressure on aluminum prices, but Sino-US trade negotiations have made some progress, market risk sentiment has been repaired, while the current electrolytic aluminum operating capacity is still at a low level, inventory dematerialization continues, and downstream home appliance industry production increases, demand has improved, aluminum prices still have room
to rise 。 In terms of spot, there are still not many shipments from holders within the day, intermediaries are still active, the trading of both sides is acceptable, and the downstream is still mainly based on on-demand goods, and there is no large number of replenishment, and the attitude of Gaoshui is wait-and-see
.
Technically, the main 1912 contract of Shanghai aluminum is long on the upper shadow, and the daily MACD is low and golden, and short-term volatility is expected to be strong
.