The main force of Shanghai aluminum rushed back down, and the market was afraid of heights

In focus, the ECB left interest rates unchanged on Thursday but adjusted its forward guidance to suggest lower rates would remain in place for longer, though then Draghi said the risk of a recession in the eurozone was low
.
In order to reduce its dependence on imported finished products and curb the export of raw materials, Indonesia announced plans to spend tens of billions of dollars to build a rate and nickel smelter
.

Spot analysis: On July 26, the spot A00 aluminum quotation was 13920-13960 yuan / ton, and the average price was 13940 yuan / ton, up 80 yuan / ton
from the previous trading day.
Aluminum prices have risen for two consecutive days, and market trading is still active in the morning due to the receipt of goods by a large household, but with the suspension of its receipts, trading between traders began to show a stalemate
.
Due to the recovery of prices, holders are very active in shipments and middlemen's willingness to receive goods converges, and the market shows more and less
pick-up.
Downstream because some stocks have been stocked in the past few days, the superimposed fear of heights is obvious, and it does not show signs of
stocking for the weekend.

Warehouse receipt inventory: the total of Shanghai aluminum warehouse receipts on Friday was 145234 tons, a daily decrease of 1554 tons; On July 25, LME aluminum stocks were 987975 tons, an increase of 34,475 tons
per day.
As of the week of July 26, the aluminum inventory of the Shanghai Futures Exchange was 396,400 tons, a weekly decrease of 25,622 tons
.

Main positions: the top 20 long positions of the main 1909 contract of Shanghai aluminum are 81825 lots, a daily decrease of 987 lots, a short position of 88090 lots, a daily increase of 622 lots, a net short position of 6265 lots, a daily increase of 1609 lots, a long reduction of short positions, and a net
increase of net space.

During the day, the main 1909 contract of Shanghai aluminum rushed back down
.
Affected by the weakening of the euro, the dollar is strong, but the evening U.
S.
GDP data hit, if the performance is not good, will put the dollar under pressure again, fundamentally, upstream alumina plants are expected to reduce production, and alumina prices stop falling and rise, supporting aluminum prices
.
In terms of spot, due to the price recovery, the shippers are very active in shipments and the willingness of middlemen to receive goods has converged, and the market has shown more and less
pick-up.
Downstream because some stocks have been stocked in the past few days, the superimposed fear of heights is obvious, and it does not show signs of
stocking for the weekend.
Technically, the daily MACD red column of the main 1909 contract of Shanghai aluminum increased slightly, and KDJ appeared a golden cross, which is expected to fluctuate more in the short term
.