Shanghai aluminum shock downward market consumption is weak, downstream wait-and-see is the mainstay

In the external market, Lun aluminum fluctuated at a low level, and the LME reported at 2396 US dollars / ton at 15:01 Beijing time for three months, down 19 US dollars, or 0.
81%,
from the previous trading day's settlement price.

In terms of the market, the spot trading price of the Yangtze River was 18970-19010 yuan / ton, down 250 yuan, and the premium was 40-80; Guangdong spot 19040-19100 yuan / ton, down 230 yuan, premium 110-liter 170; Hua reported 19030-19070 yuan / ton, down 250 yuan
.
Holders have the willingness to raise prices in the morning, and the lower adjustment follows the later period, the buyer's bearish sentiment affects the overall demand, the trading atmosphere is not warm, and the overall trading volume declines
.

Shanghai aluminum opened low and went low, macro sentiment weakened, industrial products fell as a whole, aluminum prices are also difficult to escape weakness, superimposed terminal demand is still weak, spot trading performance is not satisfactory, intraday Shanghai aluminum weak operation, lost the 19,000 mark
.

Domestic production capacity recovery, production increase is more objective, Sichuan, Guangxi and Inner Mongolia new production capacity progress is not as expected, positive prices; Under the influence of the epidemic, shipments were blocked and low inventories exceeded expectations to support aluminum prices, but consumption was weak, downstream wait-and-see was the mainstay, the demand of processing leading enterprises fell month-on-month, and the terminal gradually entered the consumption off-season, which inhibited the release of demand, and aluminum was expected to fall
.

Industry news, according to Iranian official data, the cumulative export volume of the mining industry in the first seven months of this country (March 21-October 22, 2022) reached 25.
55 million tons, and the cumulative export output value was greatly 6.
66 billion US dollars, and the export output and output value fell by 6% and 1%
year-on-year, respectively.
In terms of products, the steel processing industry (including iron ore, semi-finished products and finished steel) led the export list, with an export output value of 3.
14 billion US dollars, followed by copper, with an export output value of 848 million US dollars, and the third largest export industry was aluminum, with an export output value of 660 million US dollars
.