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Overnight, Shanghai aluminum fluctuated
at a high level.
Recently, the national power shortage situation has become more and more serious, Yunnan, Guangxi, Guizhou, Inner Mongolia, Henan and other places have experienced power cuts and production reductions, and the scale of production reduction has exceeded 2 million tons since the beginning of the year, and the supply continues to shrink and amplify the gap between supply and demand
.
On Monday, the aluminum ingot society fell by about 10,000 tons to 720,000 tons, and the market remained tight
.
In the case that the domestic power problem is difficult to solve in the short term, it is expected that Shanghai aluminum will maintain the upward trend of gravity and hold
more positions.
From a fundamental point of view, the problem of power rationing has intensified, and the supply side has continued to be disturbed, and up to now, the scale of production reduction caused by power rationing in the southwest region alone has exceeded 1 million tons
.
It is expected that the current power supply shortage will continue in August, and the problem of production reduction will be difficult to solve
in the short term.
In the off-season, electrolytic aluminum inventories are always in a state of destocking, which makes aluminum prices receive strong support
.
In addition, on August 10, local time, the US infrastructure bill was passed, involving $550 billion in infrastructure funding, and the demand for good boosted bulls' sentiment
.
However, it is still necessary to pay attention to the macro Fed's statement and domestic policy guidance
for stabilizing commodity prices.
It is expected that aluminum prices will continue to maintain a strong volatile trend, with the price range of 19700-20200
.
