August 9 aluminum market afternoon review

Crude oil rose sharply overnight, and Lun aluminum opened low and closed high in Zhongyang, opening slightly higher at $
2448 today.
Shanghai aluminum opened higher and lower in overnight trading, closing at 18435
.
Shanghai aluminum trading declined, positions were stable, and market sentiment was biased towards
neutrality.
The off-season is approaching the weakening of domestic consumption, and inventories have risen this week, but there is cost support below, and the market may continue the bottom shock around 18,000, or a moderate rebound trend
.
Upper pressure 20000, lower support 17500
.

Geopolitical crisis and its impact continue to ferment, European energy crisis is more serious, in response to the increasingly severe natural gas supply situation, the European Union issued a "gas conservation" regulation on the 20th, requiring all member states to reduce natural gas consumption by 15% this winter, natural gas shortage and rising electricity prices have hit overseas aluminum smelters particularly hard, and have some support
for aluminum prices.
In general, the macro atmosphere is empty, and the performance of aluminum prices is relatively resistant to decline under the support of the current cost, but the increasingly prominent supply-side pressure and downstream consumption that still needs to be repaired have suppressed aluminum prices to a certain extent, and aluminum prices are expected to run
empty.