Aluminum opens low and goes low It is necessary to be cautious about the range of price correction

In terms of spot, Shanghai spot aluminum trading concentration 14500-14510 yuan / ton, the discount of the month 20 yuan / ton to flat water, Wuxi transaction concentration 14500-14510 yuan / ton, Hangzhou transaction concentration 14510-14530 yuan / ton
.
Due to the fact that there is almost no price difference between spot discount and aluminum future, warehouse receipts continue to flow into the market, middlemen receive goods cautiously, downstream enterprises maintain stable procurement, and the overall transaction remains stable
.

On the news, the Asian dollar index retreated higher, indicating heavier topside selling pressure, now trading around 95.
05, as the trade conflict between the United States and Canada will ease, Canada may be ready to make concessions to the United States to solve the problems
they encountered in the NAFTA revision negotiations.
In the short term
, the market focuses on China's M1 and M2 growth rates in August.

In terms of industry, Guizhou Huaren Aluminum began to start the fourth phase of electrolytic aluminum production capacity on September 10, and 6 electrolyzers have been powered up as of today, and 72 electrolyzers
are expected to be completed by the end of this month.

Overall, Shanghai aluminum opened low and went low, because rumors that Rusal may cut output have not been officially confirmed, but domestic alumina prices remain firm
.
And domestic aluminum inventories continue to decrease, and it is still necessary to be cautious about the extent of
the correction in aluminum prices.
Operationally, it is recommended that the Shanghai aluminum 1811 contract temporarily take 14,500 yuan / ton as the dividing line, and short-term wait-and-see is the mainstay
.