The main force of Shanghai aluminum first fell and then rose, and the end of the day was unchanged from the previous trading day

Market focus: (1) As of about 6:30 Beijing time on August 17, the United States has confirmed a total of 5564159 new coronary pneumonia cases and 173072
deaths.
Compared with the data at 6:30 on the previous day, there were 38,152 new confirmed cases and 536 new deaths in the United States
.
(2) As of August 17, the domestic spot inventory of electrolytic aluminum was 757,000 tons, an increase of 18,000 tons per week, showing an accumulation trend
in August.

Spot analysis: On August 17, spot A00 aluminum reported 14400-14440 yuan / ton, the average price was 14420 yuan / ton, down 140 yuan / ton
per day.

Warehouse receipt inventory: the total amount of Shanghai aluminum warehouse receipts on Monday was 145176 tons, an increase of 12,969 tons per day, an increase of 10 consecutive days; On August 14, LME aluminum stocks were 1594325 tons, a daily decrease of 6,200 tons, down 14 consecutive days
.
As of the week of August 14, the Shanghai aluminum inventory in the previous period was reported 244068 tons, an increase of 15,162 tons
.

Main positions: the top 20 long positions of Shanghai aluminum main 2009 contract were 70179 lots, minus 2034 lots, short positions were 84622 lots, daily minus 1979 lots, net short positions were 14443 lots, a daily increase of 55 lots, long and short were reduced, and net space increased
.

Market research and judgment: On August 17, the main force of Shanghai aluminum in 2009 first suppressed and then rose
.
The intensification of US crackdown on Chinese companies, rising tensions between the two countries, increasing market concerns; At the same time, the domestic electrolytic aluminum production capacity gradually recovered, and the downstream demand gradually weakened, and the Shanghai aluminum inventory has recently entered the inventory increase cycle, and the pressure on the aluminum price has gradually increased
.
However, the continuous spread of the epidemic in the United States has put pressure on the US index; And the current electrolytic aluminum inventory is still at a low level overall, and the pressure on the supply side is still limited, and there is still some support
for aluminum prices.
Technically, the main 2009 contract of Shanghai aluminum is long and the lower shadow, focusing on the resistance at the 14500 position, and it is expected that the short-term continuation of the adjustment
.