The weak market demand side limits the upward momentum of Shanghai aluminum

In the external market, Lun aluminum fluctuated at a low level, and the LME reported at 2422 US dollars / ton at 15:01 Beijing time for three months, down 14 US dollars, or 0.
60%,
from the settlement price of the previous trading day.

In terms of the market, the spot transaction price of Yangtze River was 18950-18990 yuan / ton, down 40 yuan, and the premium was 45-85; Guangdong spot 19020-19080 yuan / ton, down 20 yuan, premium 115-liter 175; Hua reported 19000-19040 yuan / ton, down 50 yuan
.
Spot trading increased slightly compared with the previous day, and the holders followed the market slightly downward, and the enthusiasm of large households to receive goods was average, and the trading atmosphere was acceptable
.

Macro pressures weakened, but the upward drive on fundamentals was insufficient, mainly due to poor demand performance
.
Although the release of favorable domestic policies has boosted market sentiment, from the current situation, the traditional seasonal consumption season has passed, and the current demand side may not have the conditions for obvious improvement, and the weak situation will continue
.
However, the current aluminum ingot inventory, which continues to refresh the low, still provides bottom support
for aluminum prices.

Shanghai aluminum opened high and dipped during the day, the US dollar index fell, the stock market rose, supporting the recovery of risk appetite, but the demand side was weak to contain the momentum of aluminum prices, and high prices suppressed downstream procurement enthusiasm, the short-term market was in a range shock operation, intraday Shanghai aluminum weak operation
.