Market worries persist and the main force of aluminum fluctuates and falls

Market focus: (1) U.
S.
President Donald Trump, when he met with Republican lawmakers on Capitol Hill on Tuesday, proposed a 0 percent payroll tax rate that will remain in place for the rest of the year
.

Spot analysis: On March 11, spot A00 aluminum was reported at 12790-12830 yuan / ton, with an average price of 12810 yuan / ton, down 20 yuan / ton
per day.
The intraday market is full of supplies, and the holders are more active in shipments, but there are relatively few receivers, because the aluminum price is at a relatively low level, the holders are more upright, the transaction performance of buyers and sellers is deadlocked, and the actual transaction is average
.
Downstream on-demand procurement is mainly within the day, and there is no significant sign of
stocking.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 254417 tons on Wednesday, a daily increase of 7,742 tons, an increase of 4 consecutive days; On March 10, LME aluminum stocks were 1010025 tons, a daily decrease of 9,925 tons, a 20-day
decline.

During the day, the main force of Shanghai aluminum fell in 2005
.
The global pneumonia epidemic continues to spread, the US CDC said that the window of opportunity to contain the epidemic has been missed, and market concerns continue; At the same time, domestic electrolytic aluminum production in February increased year-on-year, and the built capacity continued to expand, while downstream demand performance was weak, electrolytic aluminum inventory will continue to accumulate, aluminum prices lack upward momentum
.
However, US President Trump proposed to reduce payroll taxes, and global central banks will further ease monetary policy; Moreover, China's epidemic control has achieved remarkable results, which is conducive to accelerating the recovery of industrial production and restoring market confidence; In addition, due to the impact of the epidemic in China, alumina production has declined, and prices have rebounded, which has partially supported
aluminum prices.
In terms of spot, the intraday market has sufficient supply, and the shippers are more active, but there are relatively few receivers, and the downstream intraday on-demand procurement is the mainstay, and there is no significant sign of
stocking.
Technically, the main 2005 contract of Shanghai aluminum contracted and increased positions, and the moving average group was short-headed, and the short-term shock was expected to be weak
.