Market worries continue to aggravate Shanghai aluminum materials continue to fluctuate in range

On the macro front, the spread of the overseas epidemic has not changed, and the economic data of Europe and the United States have recovered, but the overall recession has continued
.
The direction of the US election has a greater
impact on the US dollar.
Domestic monetary and fiscal policies are positive, and with investment such as large infrastructure to drive economic recovery, downstream demand recovers rapidly, and non-ferrous metals as a whole maintain a strong trend
.
The recent escalation of the conflict between China and the United States has continued to aggravate overall market anxiety
.

From the perspective of industry fundamentals, high profitability has led to the acceleration of upstream production and resumption of production, midstream inventory has remained relatively low, forming a certain support for prices, and downstream on-demand procurement, the overall state of relative balance
.
On the futures side, Hulun aluminum maintained its impact on the area around 15,000, but it was blocked from falling back this week, paying attention to the
competition here.
If there is no upside here, the year's high may have already occurred
.
Aluminum prices continue to fluctuate in range, for reference
only.