Recession expectations continue Aluminum prices continue to be pressured and frustrated

Today's Shanghai aluminum main monthly 2208 contract, opening 17170 yuan / ton, the highest intraday 17500 yuan / ton, the lowest 17025 yuan / ton, settlement 17460 yuan / ton, the end closed at 17255 yuan / ton, down 205 yuan, down 1.
17%.

Today's Lun aluminum volatility was violent, LME three-month Beijing time at 15:01 at 2344 US dollars / ton, down 15 US dollars, or 0.
64%,
from the previous trading day's settlement price.

Today's Shanghai aluminum is weak and volatile, the US CPI exploded, coupled with the worsening of the European energy crisis, the risk of recession in Europe has intensified, while domestic aluminum supply and production are rising, the range of inventory dematerialization is narrowing, and Shanghai aluminum continues to be under pressure and frustrated
.

Today's spot trading price of Yangtze River is 17410-17450 yuan / ton, down 170 yuan, discount 0-40 liters; Guangdong spot 17340-17400 yuan / ton, down 80 yuan, discount 70-discount 10; Hua reported 17470-17510 yuan / ton, down 160 yuan
.
The trading atmosphere in the spot market continued to improve, and although the holders were willing to raise prices, the receivers still actively entered the market to prepare goods, and the overall transaction situation was acceptable
.

On the whole, high inflation leads to high interest rate expectations, high interest rates trigger recession expectations, and overall macro weak expectations continue
.
Fundamentals are still expected to be excessive, aluminum prices are below the average cost line of the industry, and it is not heard that production will slow down, and it will take time for aluminum prices to bottom out and reshape supply and demand to achieve a new balance
.