August 12 aluminum market noon review

Overnight, the aluminum narrowly oscillated to close the doji, opening slightly higher at $
2591 today.
Shanghai aluminum rose slightly at night highs, closing at 20130
.
Shanghai aluminum trading positions are declining, and market sentiment is biased towards
neutrality.
Yunnan Henan aluminum production capacity is affected, while downstream demand is better, Shanghai aluminum may continue to fluctuate upward in the medium term
.
Upper pressure 20500, lower support 19500
.

From a fundamental point of view, the problem of power rationing has intensified, and the supply side has continued to be disturbed, and up to now, the scale of production reduction caused by power rationing in the southwest region alone has exceeded 1 million tons
.
It is expected that the current power supply shortage will continue in August, and the problem of production reduction will be difficult to solve
in the short term.
In the off-season, electrolytic aluminum inventories are always in a state of destocking, which makes aluminum prices receive strong support
.
In addition, on August 10, local time, the US infrastructure bill was passed, involving $550 billion in infrastructure funding, and the demand for good boosted bulls' sentiment
.
However, it is still necessary to pay attention to the macro Fed's statement and domestic policy guidance
for stabilizing commodity prices.
It is expected that aluminum prices will continue to maintain a strong volatile trend
.