Brief review of Shanghai aluminum on September 1

Recently, the Nonferrous Metals Association spoke out against the excessive rise in aluminum prices, saying that the current market consumption does not support excessive prices, and the shortage of supply side is not so serious as rumors, although many places have serious power restrictions and production restrictions, but the short-term supply of electrolytic aluminum enterprises can still be met; In the market bullish sentiment fall, bulls have reduced their positions, aluminum prices in response to the sound, in the short term, it is expected that Shanghai aluminum or will continue to weak shock, do not rule out the possibility of testing the 21000 mark, vigilant night trading further decline may fall
.

Overall, under the background of the intensification of "power rationing" and the tightening of "dual control", the production reduction of electrolytic aluminum in the third quarter is expected to be further expanded, and the landing time of new projects will be further delayed, and with the gradual recovery of consumption, the price of electrolytic aluminum is expected to move further up
.