Brief comment on the aluminum market on August 4

Today's Shanghai aluminum shock upward, as of 3 p.
m.
, the main force of Shanghai aluminum closed up at 14695, up 100, up 0.
69; driven by the strong trend of the external market, Shanghai aluminum has followed the rise today, spot broke the 15,000 mark, but considering that the current spot premium is still in the continuous decline, while the decline in demand is gradually reflected, in the short term in the long and short game aluminum prices or there is a certain adjustment demand, it is recommended to cautiously chase up, Shanghai aluminum main force above continue to pay attention to 15,000 pressure level, below support 14,000
。

The fundamental performance of aluminum is not satisfactory, the situation of strong demand is difficult to reproduce, the market only has expectations for gold nine silver ten, and on the supply side, whether from primary aluminum production, aluminum imports and scrap aluminum can see the willingness
to increase supply.

The supply and demand problem of aluminum fundamentals continues to ferment, social inventory is close to re-accumulation, and warehouse receipts have also increased, all of which are aggravating the market's concerns
about the aluminum market.
When the market realizes that aluminum supply and demand begin to affect prices, the enthusiasm for subsequent participation will be greatly reduced
.
However, the current market is still doing basis repair market, due to macro factors, bearish not short gives bulls the opportunity
to speculate.