Shanghai aluminum oscillation fell slightly, but remained above the moving average group

In terms of spot, Guangdong spot market transaction concentrated in 14710-14730 yuan / ton, Guangdong-Shanghai price difference maintained around 140 yuan / ton, local holding manufacturers actively shipped, market circulation supply is abundant, but middlemen and downstream willingness to receive goods is general, aluminum rod processing fees continue to fall, different specifications of aluminum rod processing fees have been reduced, 90mm specifications of aluminum rod processing fees in 370-410 yuan / ton, 110/120mm specifications in 320-360 yuan / ton, 150/178mm specifications are concentrated in 300-340 yuan / ton
.

In terms of news, the Asian dollar index stopped falling and rebounded, now trading around 95.
35, because the Sino-US trade negotiations have not made good progress, but the market reported that on August 23, the United States will impose new tariffs on more than $16 billion of Chinese goods, and China will respond equally to the United States, and trade war fears have risen
.

In terms of industry, data from the International Aluminium Association (IAI) shows that the average daily output of electrolytic aluminum in July 2018 was 176,500 tons, an increase of 2.
7%
year-on-year.
In July, global electrolytic aluminum production was 5.
472 million tons, of which 2.
362 million tons were produced outside China, an increase of 1.
4% year-on-year, marking the 17th consecutive month of positive growth
.

Overall, the Shanghai aluminum oscillation declined, but remained above
the moving average group.
At the same time, given the continuous reduction in domestic aluminum inventories, aluminum prices are still expected to oscillate higher
.
Operationally, it is recommended that the Shanghai aluminum 1810 contract can be backed above 14600 yuan to bargain price, enter the market reference around 14700 yuan, and target 14850 yuan / ton
.