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Today's Shanghai aluminum shock rose slightly, as of the close of 3 pm, the main force of Shanghai aluminum closed up 0.
26% to 17525, up 45 from the previous trading day; Short-term aluminum prices are mainly strong shocks, continue to pay attention to the 17200-17800 range oscillation, it is recommended to pull back to long
.
It is expected that tomorrow's spot aluminum will rise
steadily.
Domestic peak season consumption gradually rebounded, but the momentum is not as good as the same period of previous years, the lack of cores in the automotive market affected the growth momentum has a certain drag on the overall consumption recovery, and the downstream high aluminum prices have not been fully digested
.
From the perspective of the operating rate of processing enterprises, the overall continued recovery, especially the previously weak performance of profiles and cables has a recovery trend, orders have gradually improved, demand is still on the way to recovery, rigid demand still supports strong demand
.
Overseas, the three major consumption places of Europe, the United States and Japan continue to rise, although the blockage of the Suez Canal has a certain impact, but the rigid demand brought by the sustained economic recovery is the main logic
.
On the supply side, the closure of the import window has caused some of the recent arrivals to be hoarded in the bonded zone, and some have directly flowed downstream, while the pace of domestic new construction and resumption of production accelerated in the second quarter.
Recently, high aluminum prices have begun to gradually transmit to the terminal, and it still takes some time, so the continuity of destocking is general, and there is a small accumulation
in the middle of the week.
However, as the price falls, the downstream just need to purchase is not weak, while the two major demand sectors of construction and cable have a recovery trend, destocking is still the mainstream, so the next two quarters demand expectations are still relatively optimistic, the aluminum price to form a support, if there is no macro obvious disturbance, aluminum prices will fluctuate strongly
.
