July 23 Shanghai aluminum morning review

Due to the off-season of consumption, inventories are about to usher in a period of accumulated inventory, and the cost of electrolytic aluminum is still rising, the fundamentals of aluminum itself can not make the trend of aluminum prices clear for the time being, and it is still necessary to wait for the promotion of active energy, in addition, it is necessary to pay attention to the rise brought about by the aluminum itself may be used as a hedge long configuration
.
The main operation of Shanghai aluminum is 14000~14150 yuan / ton
.
Spot discount 90~50 yuan / ton
.

In terms of news, the US Secretary of the Treasury said that he intends to lift Rusal sanctions, Shanghai aluminum or slightly reduced, but domestic bauxite is still in short supply due to environmental remediation, and alumina plants choose to stop production or elastic production due to profit squeeze, resulting in the cost of electrolytic aluminum rising, and the reduction is expected to be limited
.
At present, domestic supply is in a year-on-year decline, demand remains weak, and both bulls and bears are cautious
.
It is expected that Shanghai aluminum will maintain a range fluctuation with a high probability, and it is recommended that the new order be mainly
wait-and-see.