Shanghai aluminum runs low, the market maintains a cautious wait-and-see attitude

The fall in aluminum prices again has nothing to do with fundamental changes, mainly due to
repeated market sentiment.
Crude oil fell sharply on Thursday night, the three major U.
S.
stock indexes closed lower, and overseas macro sentiment weakened
again.
Recently, the market has fluctuated greatly, but the medium and long-term macro pressure still exists, and the main rebound of aluminum prices is limited, and the internal strength and external weakness pattern remain unchanged
.

In terms of market, spot market transactions increased slightly, mainly in South China
.
The downstream received goods at a low price, and the holder showed a slight reluctance to sell in the later stage
.
The mainstream trading price in Shanghai is around 19,200 yuan / ton, which is about 20 percent lower than that of futures
.
The mainstream transaction price in Guangdong is around 19150 yuan / ton
.

The rebound of aluminum prices was blocked, the market reality and expected consumption were weak, merchants shipped positively, the market remained cautious, and the overall transaction was relatively light
.
External macro pressure is still in place, and aluminum prices are expected to follow the pressure of the sector
.

At present, macro pessimism is still strong, overseas recession fears have intensified, and the domestic economy continues to repair, but the overall performance is less than expected
.
Aluminum market consumption recovery is slow, and it is more difficult for consumption to have optimistic performance
when the off-season comes.
In the case that output continues to rise and the policy has not stimulated, aluminum prices are prone to fall and rise
.