The main force of Shanghai aluminum opened high and fluctuated, and the price increased greatly during the day

Market focus: Ministry of Commerce spokesperson Gao Feng said that if China and the United States reach a phase one agreement, tariffs should be canceled at equal rates according to the content of the agreement, which is an important condition for
reaching an agreement.
The Bank of England announced that it kept interest rates unchanged at 0.
75%, in line with market expectations, and worried that two yuan unexpectedly voted for a rate
cut.
China's aluminum exports in October fell 0.
9% month-on-month, to a new low since February, down 10.
6%
year-on-year.
The export volume of unwrought aluminum in October was 431,000 tons, down 10.
21% year-on-year; From January to October, the export volume was 4.
801 million tons, an increase of 1.
4%
year-on-year.

Spot analysis: On November 8, the spot A00 aluminum quotation was 14210-14250 yuan / ton, the average price was 14230 yuan / ton, and the daily increase was 120 yuan / ton
.
The intraday price increase is large, the enthusiasm of the holders to ship is significantly higher than at the beginning of the week, the middleman tends to receive goods at a large discount, the transaction is acceptable at the lower price, and the trading performance of the two sides is deadlocked
at a slightly higher price.
Downstream manufacturers purchase on demand, receive fewer goods, the transaction is light, and the mood is wait-and-see
.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 60,754 tons on Friday, a daily decrease of 581 tons, down 17 consecutive days; On November 7, LME aluminum stocks were 945475 tons, down 3,125 tons per day, down 17 consecutive days
.
As of the week of November 8, the aluminum inventory of the Shanghai Futures Exchange was 276659 tons, a weekly decrease of 2,077 tons, a decline of four consecutive weeks
.

Main positions: the top 20 long positions of the main 1912 contract of Shanghai aluminum are 65423 lots, an increase of 31 lots per day, the short position is 80802 lots, a daily increase of 1286 lots, the net short position is 15379 lots, the daily increase is 1255 lots, the long and short are increased, and the net space increases
.

On November 8, the main force of Shanghai aluminum 1912 opened high.

Two members of the Bank of England supported the interest rate cut, the pound fell heavily in favor of the dollar, and China's aluminum exports fell in October, falling to the lowest point since February, and the downstream demand performance was weak, putting pressure on aluminum prices, but optimistic news from Sino-US trade negotiations heated up market risk appetite, while the current destocking of electrolytic aluminum continued to support aluminum prices
.
In terms of spot, the price increase is large, the enthusiasm of the holders to ship is significantly higher than at the beginning of the week, the middlemen tend to receive goods at a large discount, downstream manufacturers purchase on demand, receive fewer goods, the transaction is light, and the mood is afraid of heights
.
Technically, the main 1912 contract of Shanghai aluminum is longer and the upper shadow, and the mainstream short position increase is large, and it is expected to fluctuate
in the short-term range.
In terms of operation, it is recommended that the Shanghai aluminum 1912 contract can be lightly tested near 14050 yuan / ton, and the stop loss is 14120 yuan / ton
.