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Overnight, the main force of Shanghai aluminum 2209 closed at 18120, down 45, and LME aluminum closed at 2385, down 29; Macro: Eurozone and US manufacturing PMIs for July were 49.
8% and 52.
2%, respectively, slowing better than expected; The ISM non-manufacturing purchasing managers' index (PMI) in the United States rebounded to 56.
7 in July from 55.
3 in June, ending a three-month losing streak
.
The three Fed policymakers unanimously said on Tuesday that raising rates would at least bring inflation down, and that market expectations for a halt to aggressive rate hikes were inaccurate
.
Fundamentals: The supply side of electrolytic aluminum has not seen a significant shutdown and maintenance, and the high supply continues
.
Social stocks increased by 03,000 tons compared with the last month, and the increase in Foshan in South China was more obvious
.
Demand: Weak real estate demand and the recovery of automobile demand are the current situation of aluminum terminal consumption, but the gap in real estate aluminum demand cannot be effectively made up at present, so the weak view
of Shanghai aluminum continues.
Cost side: As aluminum prices continue to rebound, the average profit of production enterprises returns to about 1100 yuan / fluctuates
.
At present, the fundamentals are still bearish and the view is weak
.
At present, aluminum fundamentals are poor, while manufacturing activity in various countries continues to slow, Fed officials' speeches boost interest rate hike expectations, commodity rebound is blocked, and the downward trend in the medium and long term remains unchanged
.
