September 28 aluminum market afternoon comment

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 active, with investment such as large infrastructure to drive economic recovery, downstream demand recovery is relatively fast, non-ferrous metals as a whole maintain a strong trend, but the recent peak season gradually passed, and the peak period of demand gradually declined
.
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, midstream inventories continue to decline, forming some support for price decline, but the overall time point has been unfavorable
for bulls.
On the futures side, Shanghai aluminum was blocked from falling, and selling gradually increased
.
Next week's aluminum price is expected to fluctuate weakly, for reference
only.