Weakening of metals coupled with weak demand Shanghai aluminum upward trend is limited

Today, Lun aluminum fluctuated up and down, and the LME was reported at $2,867 / ton at 15:01 Beijing time for three months, down $10, or 0.
36%,
from the previous trading day's settlement price.

Today's Shanghai aluminum low volatility, macro atmosphere overall pessimistic, most of the industrial products resonance weakened, superimposed demand side is still weak, aluminum prices upward trend is limited, but stable growth policy concentrated release, low inventory still supports aluminum prices, short-term aluminum prices or will continue to perform repeatedly
.

In terms of the market, today's spot trading price of Yangtze River is 20500-20540 yuan / ton, down 90 yuan, discount 35-liter 5; Guangdong spot 20490-20550 yuan / ton, down 90 yuan, discount 45-liter 15; Hua reported 20560-20610 yuan / ton, down 75 yuan
.
Near the end of the month, the receiving party purchases more monthly tickets to supplement the input, but the market is weak, the willingness of the cargo holder to ship is not high, the downstream consumption is general, and the transaction is weak
.

At present, the release of supply-side production capacity is still underway, the impact of the epidemic on the demand side has weakened, and the number of enterprises resuming work and production has increased, but the signs of conversion into terminal order increments are not obvious, and there is still no possibility of consumption improving beyond expectations
.
Today's Shanghai spot aluminum ingot quotation of 20590-20630 yuan / ton, the average price of 20610 yuan / ton, down 230 yuan / ton from the previous trading day, the 2206 contract is quoted at 30-liter 10 yuan / ton
.
Domestic inventories continue to degrade, but holders still ship more at high prices, and Shanghai aluminum is expected to fluctuate
weakly.