Market demand side performance is not good, Shanghai aluminum trend is weak

Today, Lun aluminum fluctuated downward, and the LME reported at $2934 / ton at 15:01 Beijing time for three months, down $21, or 0.
73%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of the Yangtze River is 20590-20630 yuan / ton, down 230 yuan, with a discount of 30-10 liters; Guangdong spot 20580-20640 yuan / ton, down 210 yuan, discount 40-liter 20; Hua reported 20640-20680 yuan / ton, down 230 yuan
.
Holders continued to adjust prices to stimulate shipments, receivers were not willing to bear and replenish goods, the overall trading was cold, and the actual transaction was weak
.

On the macro front, the executive meeting of the State Council deployed a package of measures to stabilize the economy, involving 33 measures in 6 aspects, and economic support for domestic policies has become increasingly strong
.
The renminbi recovered sharply against the dollar, while the dollar index fell
sharply.
Markets are more worried about the outlook for the U.
S
.
economy due to the Fed's aggressive interest rate hike policy.

Today's Shanghai aluminum trend is weak, domestic favorable policies are difficult to have an immediate effect, and production is still expected to continue to rise, coupled with the weak atmosphere of industrial products, poor performance on the demand side, aluminum prices short-term correction to close down
.