The accumulation speed is slow, and Shanghai aluminum continues to fluctuate

At the macro level, Liu He spoke with US Trade Representative Robert Lighthizer and Treasury Secretary Mnuchin at
his request.
The two sides agreed to create conditions and atmosphere to continue to promote the implementation of
the phase one economic and trade agreement between China and the United States.

From a fundamental point of view, in terms of supply, the profit of aluminum plants expanded this week, and some companies continued to join the ranks of resumption of production, but production capacity and output have not been fully released, and output supply is temporarily stable
.

In terms of demand, the overall start of aluminum downstream is still stable, in addition to the strong demand for aluminum foil, the orders of small and medium-sized processing enterprises in profiles, cables, strips and other sectors have not yet improved significantly
.
However, based on the peak season expectation, it is difficult for the supply increase before the end of October to cope with the increase in demand in the peak season, and the market capital is more willing to go long
.

At present, aluminum ingots continue to accumulate, and the upward drive is not sufficient
.
Strategically, it is recommended to hold more in the early stage and increase the amount of pullback
.