Shanghai aluminum short-term range volatility The market did not see a clear direction choice

In terms of the market, the average price of spot Yangtze River was 18,570 yuan / ton, up 160 yuan / ton, and the discount was 10 yuan / ton
for the month.
The average spot price of Nanchu was 18,390 yuan / ton, up 140 yuan / ton, and the discount for the month was 190 yuan / ton
.
The trading situation in the spot market has weakened slightly compared with last Friday, and the downstream just needs to receive goods, and the price is located near the recent pressure outlet, and the enthusiasm for stocking is slightly weaker
.
East China traded for Pingshui in the month, Gongyi region for -110 yuan / ton for the month, and South China for the month around 200 yuan / ton
.
On August 22, the social stock of aluminum ingots was 694,000 tons, an increase of 5,000 tons from last Thursday, and the social stock of aluminum rods was 139,500 tons, an increase of 07,000 tons
from last Thursday.

On the macro front, LPR once again saw an asymmetric rate
cut.
China's 1-year loan market quotation rate (LPR) was 3.
65% in August, down 5 basis points from the previous period; LPR over 5 years was 4.
30%, down 15 basis points
from the previous period.
LPR again experienced an asymmetric decline, with LPR over 5 years falling by 15 basis points slightly more than market expectations
.

Industry news, recently Sichuan Province's power rationing requirements have been upgraded again, requiring electrolytic aluminum enterprises to stop production
.
According to statistics, the operating capacity of electrolytic aluminum in Sichuan Province at the end of June was 1 million tons, and affected by the shortage of electricity, it began to release signals of pressure load reduction and electricity to the people since mid-July, and independently avoided peaks
.
After entering August, the power supply situation is more severe, the scale of aluminum plant production reduction has expanded, and as of today, the electrolytic aluminum production capacity in Sichuan Province has been completely suspended
.
In addition, Chongqing's power supply is also tightening, currently affecting two electrolytic aluminum plants, involving a production capacity of about
30,000 tons.
Henan Province also has a load gap, which currently affects the production capacity of electrolytic aluminum of about 40,000 tons, and other enterprises have a pressure load
.
The magnitude and scope of supply-side interference have expanded, while the downstream processing start of the power rationing site has also been affected, and the aluminum price has also been partially waited to see the upstream of the recent shock box, and the market has not seen obvious direction choices
for the time being.

At present, both ends of aluminum price supply and demand are helpful and limited, short-term range shock, Shanghai aluminum main force below focus on 17900 yuan / ton support, upper pressure 18900 yuan / ton
.
Considering the benefits of the phased mismatch between supply and demand after the restoration of power rationing, the subsequent trend of aluminum prices cannot be ruled out
.