The long-short game is intensifying, and the trend of Shanghai aluminum fluctuates widely

In terms of external trading, Lun aluminum opened at 1613.
5 US dollars / ton in the morning, the center of gravity of Lun aluminum trading slowly moved up, and then dragged down by domestic Shanghai aluminum, Lun aluminum leaked down to give up part of the gains, and then around the daily average wide range oscillation, twice up to 1622 US dollars blocked, into the European trading session, as the dollar rushed back down, Lun aluminum pressure dived, as of 17:01, Lun aluminum closed at 1607.
5 US dollars / ton, pay attention to the support of the 120-day moving average of Lun aluminum 1600 US dollars / ton integer off
。

On the macro front, data released by the National Bureau of Statistics showed that China's official manufacturing PMI in August was 50.
4 versus 49.
9 expected and 49.
9 in the previous month, better than expected
.
PMI data is significantly better than expected, market confidence has soared, consumption may usher in a small peak season, aluminum demand side or driven by this to improve, driving aluminum prices to gradually stabilize
.

In the market, the Shanghai aluminum contract fluctuated widely after the open, diving before noon to close at 12375 yuan / ton
.
The transaction price in Shanghai is concentrated at 12580-12590 yuan / ton, the premium for the month is 170-180 yuan / ton, the transaction in Wuxi is concentrated in 12580-12590 yuan / ton, and the quotation in Hangzhou is concentrated at 12600-12640 yuan / ton
。 During the day, Shanghai transactions were mostly concentrated in trading between traders, and the willingness to receive goods downstream was not strong, and the transaction was weaker than yesterday; Wuxi holders shipped positively, middlemen and downstream enterprises willingness to receive goods has improved compared with yesterday, after 11 o'clock aluminum fell sharply, holders quotations were suppressed, the market fell into a wait-and-see mood before the afternoon, aluminum repaired part of the decline in the late afternoon, Wuxi traded a small amount of 12560-12580 yuan / ton, Shanghai spot market is relatively cold
.
Orders from downstream enterprises have improved recently, and it is expected that the bargain trading will continue to improve
after entering September.

In terms of news, the latest data released shows that as of September 1, the social inventory of aluminum ingots in five domestic places was 299,000 tons, an increase of 15,000 tons from last Thursday, and has shown an increase trend for three consecutive weeks
.
Recently, the social inventory of aluminum ingots has continued to increase, and the shortage of market supply has continued to ease; At the same time, considering that the new and resumed production capacity of aluminum is still being launched, the supply side will continue to pick up, and aluminum prices will continue to come under pressure
.
On the whole, the difference between Shanghai and aluminum long and short has intensified, the decline has slowed down significantly, and the downward space is limited, and the shock idea is treated
.