Brief review of the aluminum market on August 17

Driven by the sharp rise in the stock market, non-ferrous metals were red across the board at noon, and today Shanghai aluminum followed suit, as of the close, the main 2009 contract of Shanghai aluminum closed up to 14405, up 40, or 0.
28%.

At present, domestic aluminum inventory into a small destocking, social inventory accumulation around 720,000 tons, for the recent low range, downstream consumption began to improve, into July with the accumulation of expectations strengthening, consumption began to weaken, the overall marginal weakening of fundamentals consumption focus on infrastructure and real estate completion area on the pull effect
of aluminum.

From a macro perspective, a good signal was released before the Sino-US economic and trade talks, and the market risk aversion eased; From the basic point of view, in the traditional off-season, the trend of weak domestic supply and demand still exists, but the current inventory is still at a low level, and the accumulation range of off-season is limited, in the short term, the probability of aluminum price volatility is stronger, the main force of Shanghai aluminum continues to pay attention to the pressure level of 15,000, the support below is 14,000, the operation can be bought on demand, it is expected that the overall volatility of spot aluminum tomorrow is not large, or there is a small increase
.