Aluminum market consumption off-season, aluminum upward action is limited

In terms of external disk, Lun aluminum opened at 1827 US dollars / ton
in the morning.
During the Asian session, as the U.
S.
index remained strong, Lun aluminum oscillated downward and touched the lower 20-day moving average in the afternoon, and as of 15:00, Lun aluminum was reported at $1822.
5 / ton
.
During the European session, Lun aluminum continued to weaken into the decline low touched 1818 US dollars / ton, and then Lun aluminum rebounded strongly, crossing the 5-day moving average and turning red, as of 16:51 Lun aluminum reported 1831 US dollars / ton
.

In the spot market, aluminum futures opened the month with volatility to the upside
.
The spot trading price in Shanghai and Wuxi is between 13860-13880 yuan / ton, the opposite flat water - liter around 10 yuan / ton, up 90 yuan / ton from the previous day, and the price in Hangzhou is between
13880-13890 yuan / ton.
During the day, the price of aluminum rose sharply, the amount of goods received by a large household decreased, the supply of invoices in the hands of the holders was limited, and the prices were not many and the prices were not much; the middlemen still showed obvious willingness to receive goods due to the existence of replenishment and invoice demand; the market was active in trading due to traders' transactions, and spot prices were firm
.
Downstream fear of heights, basically based on on-demand delivery, calm performance
.
In the late afternoon, aluminum maintained range fluctuations, and the price of the holder was between 13860-13880 yuan / ton, and the flat water on the plate was between 10 yuan / ton, the actual transaction was not much, and the downstream was light
.

The U.
S.
Department of Commerce recently approved the request of the U.
S.
company Beverage Container Corp to exempt about 35,000 tons of aluminum tariffs on aluminum imports from China, after the U.
S.
Department of Commerce approved Tesla's application for a 10% tariff exemption
on aluminum import taxes.
This series of moves reflects that the United States is very dependent on China's imported aluminum, and the increasing demand for aluminum imported aluminum in the United States, especially American can manufacturers, is conducive to the consumption of domestic electrolytic aluminum, and the decline in exports of aluminum is expected to be eased to a certain extent
.
However, electrolytic aluminum inventory has accumulated a trend, which reflects that the weakness of downstream consumption has begun to be highlighted, and it is difficult to change the decline of electrolytic aluminum in the context of increased supply, and aluminum prices are expected to maintain a volatile pattern
.

July is still the off-season for aluminum consumption, the performance of the demand side is general, and the upward momentum of aluminum prices is limited
.
In addition, the price of raw materials alumina and pre-baked anode continued to decline, which also led to a decline in the production cost of electrolytic aluminum, which gradually weakened the support of the aluminum market
.