Downstream consumption slows down, and the fundamental support of aluminum prices weakens

Last week, Lun aluminum continued the correction trend, and the intraday aluminum price once recovered, but under the lack of favorable boost, the late day again fell close to the 2500 mark; As of Friday, the cumulative decline was nearly 7.
6%.

During the week's Fed meeting, it said that it would keep the existing benchmark interest rate unchanged, basically in line with market expectations, but it will start to reduce debt in the near future, which will suppress aluminum prices to a certain extent; In addition, Russia's announcement of the cancellation of export tariffs is undoubtedly the main cause of the fall in aluminum prices, affected by this, the global aluminum supply side is expected to be prominent, the tight balance between supply and demand will be further broken, the aluminum price under the long-short game or continue to run weakly, Lun aluminum focus on the 2450-2580 range fluctuations
.

In terms of the market, the decline in aluminum prices has not stopped, downstream enterprises have renewed panic, the wait-and-see atmosphere is heavier, and there are mainly on-demand replenishment at low prices, and there are not many
stockpiling companies.
In East China, last week coincided with the Fed's interest rate meeting, and the market traded more cautiously; Expectations that Russia will remove aluminum export tariffs and increase global supply triggered a sell-off and pushed down aluminum prices
in the spot markets of Europe and the United States.
Domestic aluminum prices also plummeted, with a one-day decline of 1300 yuan / ton; As of Friday, the price was between 18630-18670 yuan / ton, down 1550 yuan / ton from last Friday, down 7.
7%.

In South China, as of Friday, the price of Foshan Nanhai aluminum ingot tickets was between 18950-19050 yuan / ton, down 1540 yuan / ton from last Friday, down 7.
5%.

The rapid decline in prices inhibits the enthusiasm of traders to enter the market, and downstream enterprises just need to buy at the dip, and the transaction is limited
.
In East China, this week coincided with the Federal Reserve's interest rate meeting, and the market traded more cautiously; Expectations that Russia will remove aluminum export tariffs and increase global supply triggered a sell-off and pushed down aluminum prices
in the spot markets of Europe and the United States.
Domestic aluminum prices also plummeted, with a one-day decline of 1300 yuan / ton; As of Friday, the price was between 18630-18670 yuan / ton, down 1550 yuan / ton from last Friday, down 7.
7%.

In the short term, driven by no actual favorable promotion, Shanghai aluminum may maintain weak operation, the main force fluctuates in the range of 1.
85-19,000, and temporarily looks at 18,000 support
.
In terms of operation, short-term can buy a small amount on demand, and the merchant will ship at a high price; Short-term spot aluminum volatility is weak
.