The demand side is still not good, and Shanghai aluminum continues to be weak

Today's London aluminum fluctuated in a narrow range, and the LME was reported at $2405 / ton at 15:01 Beijing time for three months, up slightly by $2, or 0.
06%,
from the settlement price of the previous trading day.

In terms of the market, today's spot trading price of Yangtze River is 18100-18140 yuan / ton, down 100 yuan, discount 25-liter 15; Guangdong spot 17970-18030 yuan / ton, down 130 yuan, discount 155-discount 5; Hua reported 18160-18200 yuan / ton, down 100 yuan / ton
.
The aluminum market picked up slightly, the holders slightly covered the goods and reluctantly sold, the bullish sentiment of the receiving party rebounded, and the procurement enthusiasm was better, but it still took advantage of the dip, and the actual transaction was unsatisfactory
.

Although the limited power factor, Sichuan has reduced production, and due to poor profits, Guangxi's production resumption progress has slowed down, supply pressure has weakened, and aluminum prices have some support, but if you want to promote aluminum prices up, a larger production reduction is
still needed.
In summary, although the supply pressure has decreased, it is difficult for demand to change the weak pattern, and the fundamentals are difficult to support the rise
of aluminum prices.

Today's Shanghai aluminum continues to be weak, but the decline narrowed during the day, mainly due to the high price of electricity in Europe, the high cost of aluminum smelters, and the domestic Sichuan industrial power almost completely stopped, the supply side was disturbed, but the fundamentals were weak, and the demand side was still not good, coupled with the continued accumulation of aluminum ingot social treasury, aluminum prices continued to
weaken.