Shanghai aluminum afternoon comment on September 22

Since March this year, electrolytic aluminum production capacity has continued to be limited, and primary aluminum production fell for four consecutive months in August, hitting the lowest level
in more than a year.
However, under the high aluminum price, downstream consumption continues to be suppressed, and due to the dual control of energy consumption in Jiangsu, some downstream aluminum processing enterprises have been notified to completely stop production
.
The National Development and Reform Commission said that aluminum prices are still running at a high level and will continue to release aluminum reserves
.

On the whole, although the current supply side of electrolytic aluminum continues to be limited, the current market sentiment is more pessimistic, aluminum prices may continue to pullback, and it is recommended to wait and see and wait for the opportunity to
go long.