Inventories continue to accumulate Shanghai's upward momentum has weakened

Today, LME three-month aluminum was reported at 1761.
5 US dollars / ton at 15:01 Beijing time, up 4.
5 US dollars, or 0.
26%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 14510-14550 yuan / ton, up 110 yuan; Guangdong South Reserve reported 14460-14520 yuan / ton, up 110 yuan; Hua reported 14630-14650 yuan / ton, up 120 yuan
.
The enthusiasm of market shipments is acceptable, the enthusiasm of large households to receive goods is average, and the overall transaction is average
.

Industry news, Hindalco's aluminum business financial report for the first quarter of fiscal 2021 showed that during the reporting period, the smelting utilization rate was 90%, and the aluminum metal production was 291,000 tons (326,000 tons in the same period last year).

During the lockdown, all of the Company's smelters and major refineries remained operational
.

After entering August, electrolytic aluminum consumption began to weaken marginally, and cable orders declined significantly, which dragged
down terminal consumption.
Recycled aluminum consumption rebounded, and primary aluminum consumption was squeezed
.
On the supply side, the supply increment of electrolytic aluminum in the second half of the year is significantly higher than that in the first half of the year, but it is mainly concentrated in the fourth quarter, and the short-term supply is unlikely to rise
sharply.
With the continuous accumulation of inventory, the upward momentum of Shanghai aluminum has weakened, and investors are mainly
wait-and-see.