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On Tuesday, the main 2011 contract of Shanghai aluminum was supported around 10,000 yuan, and the low volatility of the day was dominant, opening 18030 yuan / ton, low 18010 yuan / ton, closing at 18165 yuan / ton, down 140 yuan / ton, -0.
76%, and Shanghai aluminum maintained volatility
in overnight trading.
Lun aluminum continued to decline, as low as $2102 / ton, closing at $2104.
5 / ton, down $29.
5 / ton
.
The average price of spot Yangtze River was 18270 yuan / ton, down 190 yuan / ton, and -40 yuan / ton
for the month.
The average spot price of Nanchu was 18290 yuan / ton, down 190 yuan / ton, and the discount for the month was 20 yuan / ton
.
Due to the low price, the spot market has a better pre-holiday stocking atmosphere and better transactions
.
In terms of macro, data from the National Bureau of Statistics shows that in the first eight months of this year, China's industrial enterprises above designated size achieved operating income of 87.
89 trillion yuan, a year-on-year increase of 8.
4%, continuing a rapid growth trend; Corporate profit was 5.
53 trillion yuan, down 2.
1%
year-on-year.
The US FHFA house price index fell 0.
6% month-on-month in July, ending a growth trend since May 2020, which was expected to be flat and up 0.
1%
in the previous month.
The house price index of the 20 major cities in the United States in July increased by 16.
06% year-on-year, 17% expected, and 18.
65%
in the previous month.
Industry news, Nanshan Aluminum Indonesia Bintan Alumina Phase II project successfully put into operation and officially put into operation, the project is fully completed and put into operation, can achieve an annual output of 2 million tons of alumina
.
Overall, the macro atmosphere continued to put pressure on metals, and aluminum prices fluctuated
at a low level.
The fundamental supply side understands that Yunnan's production reduction has been implemented by 20%, the start of aluminum processing on the consumer side continues to rise slowly, and the pre-holiday stocking atmosphere is better, which will form a good support for the bottom of aluminum prices, and the support below the main force of Shanghai aluminum focuses on 18,000 yuan support, which is expected to fluctuate
weakly in the near future.
