Shanghai aluminum volatility is weak, and the market macro sentiment pressure is greater

Today's Lun aluminum volatility downward, LME three-month Beijing time at 15:01 at 2319 US dollars / ton, down 44 US dollars, or 1.
86%,
from the previous trading day's settlement price.

Today's Shanghai aluminum shock bottomed out, the decline widened during the day, the market pessimistic atmosphere is strong, non-ferrous metals weakened across the board, China's manufacturing industry continued to contract in August, refineries gradually resumed production, and aluminum demand still maintained a weak situation, Shanghai aluminum under pressure downward, no rebound driving force
.

In terms of the market, today's spot trading price of Yangtze River is 18330-18370 yuan / ton, down 90 yuan, discount 55-discount 15; Guangdong spot 18220-18280 yuan / ton, down 50 yuan, discount 165-discount 105; Hua reported 18380-18420 yuan / ton, down 90 yuan / ton
.
Today's market inquiry and receiving atmosphere is better, downstream bargaining just needs to buy, and the overall transaction performance is
acceptable.

On Friday, the Fed and the European Central Bank were determined to raise interest rates to control inflation, denying that the recession will slow down or even cut interest rates, which affected metals; Basically, the spot transaction is acceptable, and there are continuous news of production cuts, and the recovery of supply is blocked, but the short-term market macro sentiment pressure is greater, and the price shock is expected to be weak
.