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On Friday, Lun aluminum opened higher and rose slightly, opening slightly lower at $
1794 today.
After the Shanghai aluminum rose sharply yesterday, it opened low and rose slightly at night, closing at 14665
.
Shanghai aluminum trading positions are declining, domestic spot supply and demand are close to balance, market sentiment is biased to wait and see, and the medium term may continue to fluctuate in the range of 14,000-15,000
.
The upper pressure of Shanghai aluminum is 15000, and the lower support is 14000
.
Macro, the Fed kept its benchmark interest rate unchanged at 0%-0.
25% and said it would keep interest rates unchanged
until inflation and employment reached certain conditions.
In August, the added value of domestic industries above designated size increased by 5.
6% year-on-year, indicating that industrial production accelerated recovery
.
In terms of supply, this week, Yunnan Hongtai's first phase of 1.
08 million tons of production capacity began to be powered and put into operation, Guangyuan Zhongfu, Yunnan Shenhuo and other enterprises may continue to release production capacity in late September and early October, and the supply side may continue to be under pressure
.
In terms of demand, the demand of the "Golden Nine Silver Ten" peak season has not yet been performed, although the short-term pre-holiday downstream stocking may provide some support for aluminum ingot spots, but the recovery pace of peak season demand is slow
.
In the short term, aluminum prices are volatile
.
In the long run, due to the acceleration of the pace of supply-side release and the slowdown of the recovery rhythm of the peak season on the demand side, the change in the rhythm of supply and demand makes the upward movement of aluminum prices gradually weaken
over time.
