Shanghai aluminum afternoon review on August 31

On the macro front, US personal consumption expenditures (PCE) in July were 1.
9% m/m vs.
1.
6% expected vs.
5.
6%
prior.
The final value of the University of Michigan consumer confidence index in the United States for August was 74.
1, 72.
8 expected, and the preliminary value was 72.
8
.
On Friday, the US dollar plunged close to a new low through the stimulus program and the weak statement of the Federal Reserve, the yuan soared, and the non-ferrous metal copper and aluminum rose
.

Last week's aluminum ingot social inventory fell by 07,000 tons from the previous week, and the accumulation process in the off-season was slow
.
The downstream start is stable, and there is an expectation
of destocking in the peak season supported by real estate completion.
At present, the inventory level is at a low level and the deliverable supply is tight, the import window is close to closing, the spot premium of aluminum ingots is around 30 yuan, and the monthly difference maintains the Back structure
.
Short-term aluminum prices between 44 and 10,000 500 shock treatment, it is recommended to sell high and suck low, patiently wait for the off-season low trend bull layout opportunity
.