A brief review of Shanghai aluminum on September 2

Overnight, the main contract AL2010 of Shanghai aluminum opened high and went low, and it fluctuated throughout
the day.
The spot price of Yangtze River Nonferrous A00 aluminum ingots fell by 70 yuan / ton, and the average spot premium shrank to 20 yuan / ton
.
Today's Shanghai aluminum shock declined, as of the close of 3 pm, the main force of Shanghai aluminum closed down at 14505, down 65, or 0.
45%.

In terms of the market, the price of Chinalco East China AOO aluminum ingots was 14710 yuan / ton, down 50 yuan
.
Spot aluminum prices are expected to fall today as electrolytic aluminum production capacity gradually recovers, producer operating rates continue to rise, and import supply pressures are
under pressure.

In the short term, the overall supply and demand side of the current market is still weak when domestic demand has not recovered significantly; However, the domestic aluminum ingot social library has not yet significantly accumulated, low inventory on aluminum price support is still very strong, and macro favorable policies also boost market confidence, in the short term is expected to slow down the decline of Shanghai aluminum, in the medium term with the recovery of consumption, aluminum prices may rebound possible, the main force continues to pay attention to the range of 1.
44-14,700 range shock, the operation is temporarily wait-and-see or a small amount of on-demand buying, it is expected that tomorrow's spot aluminum will rise steadily
.