The pattern of Shanghai aluminum shock remains unchanged, mainly waiting and waiting for the time being

In terms of the external market, Lun aluminum opened at 1581 US dollars / ton in the morning, and after the opening of the shock upward high touched 1588 US dollars / ton, in the afternoon fell slightly to test the daily moving average support, entering the European trading session, long and short around the daily moving average to compete, Lun aluminum narrow range oscillation, as of 15:54 Lun aluminum 1585.
5 US dollars / ton, pay attention to the US August housing start data and domestic Shanghai aluminum trend
.

On the macro front, data released by the Association of American Homebuilders (NAHB) on Monday showed that the NAHB housing market index, which measures homebuilder confidence in the United States, was seasonally adjusted to 65, up 6 from the previous month, forecasting an increase in demand for new homes, while rising demand for new homes is good for boosting the overall economy
.
The US-Japan interest rate meeting is about to be held, and the market continues to wait and see
.

In terms of the market, aluminum fluctuated
before noon in the month.
Shanghai transaction concentration is 12510-12540 yuan / ton, the monthly premium is 210-230 yuan / ton, Wuxi transaction concentration is 12500-12520 yuan / ton, Hangzhou transaction concentration is 12500-12520 yuan / ton
.
Shanghai Wuxi inventory has been greatly reduced, holders continue to sell at high prices, the circulation of goods has decreased, the market is bullish on the spot price of aluminum ingots before the National Day, the willingness to receive goods is positive, the circulating sources in the market are quickly digested, and the overall transaction continues yesterday's activity
.
Before the National Day holiday, the high spot premium is likely to be maintained
.
In the late afternoon, aluminum fluctuated around 12,300 yuan / ton in the month, and East China holders continued to sell before the afternoon, and it was difficult for the market to find suitable sources
.

In terms of news, spot aluminum premiums in Europe and the United States stabilized, financing transactions increased, and rising demand made the market supply tight, but Japan's aluminum premiums continued to weaken due to oversupply, and aluminum premiums in the three places fell steadily for most of this year, a decline of about one-third
.

Overall, aluminum inventories continue to rebound in the short term, but the increase rate has slowed down, coupled with the expected rise in alumina costs, and the peak season effect brought by gold nine silver ten has formed a certain support for aluminum prices, but the release of new production capacity on the supply side will also cause certain pressure
on it.
It is expected that in the short term, the shock pattern of Shanghai aluminum 11800-12100 yuan / ton will remain unchanged, and it will be mainly wait-and-see for
the time being.