Base metals fell and Shanghai aluminum fell widened

In terms of external trading, Lun aluminum opened at 1625 US dollars / ton in the morning, and Lun aluminum still followed the trend of Shanghai aluminum during the Asian session, and the end of the session quickly leaked down to touch the 10-day moving average, and the low recorded 1614 US dollars / ton, entering the European trading session Lun aluminum was boosted by the rise of crude oil and repaired part of the
decline.

On the macro front, recent U.
S.
data show sluggish economic growth, slowing manufacturing activity and sluggish
inflation.
Britain's manufacturing sector contracted at its fastest pace in more than three years in July, further suggesting that the Brexit referendum decision is hurting economic growth
.
In addition, China's service industry purchasing managers' index in July was lower than the previous value, indicating that its economic development is still weak, market sentiment has been frustrated, and base metals prices have fallen, and the market is expected to maintain a weak trend in the future
.

In terms of the market, aluminum futures fluctuated before noon in the month and fell later
.
Shanghai transaction concentration is 12540-12560 yuan / ton, the premium for the month is 140-160 yuan / ton, Wuxi transaction concentration is 12510-12530 yuan / ton, Hangzhou transaction concentration is 12570-12580 yuan / ton
.
Under the tight supply of goods, Shanghai holders are still resolute in the price situation, Wuxi holders have a positive attitude towards shipments, after the decline of aluminum in the later stage of the transaction, the holders slightly lower the quotation with the market, the spot price is down, the willingness of middlemen to replenish the stock is more cautious, mainly to change hands to the downstream, downstream on-demand procurement, especially the downstream of receiving Shanghai goods is only purchased according to just demand, and the overall transaction is stable
under the shock of the aluminum range.
In the late afternoon, the volume of aluminum fell in the month, Shanghai was sold, Wuxi lowered the spot price, and the quotation was concentrated at 12460-12480 yuan / ton, but the middlemen were looking for a lower price source, and the supply and demand were deadlocked
.

Base metals fell generally during the day, but Shanghai aluminum fell significantly, only slightly smaller than Shanghai lead, spot market spot premium is still high around 150 yuan / ton, stimulating the end of the low still long entry, short-term Shanghai aluminum temporarily 12,000 yuan / ton integer pass
.