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As of the close, the main 2208 contract of Shanghai aluminum closed down 18900, down 310, or 1.
61%; In the afternoon, aluminum prices plunged again, and Shanghai aluminum continued to decline after falling below 19,000 support, reaching a minimum of 18,820 yuan / ton
.
From the perspective of domestic fundamentals, as the price continues to decline, the loss of aluminum enterprises has expanded again, and the support of the cost side to the aluminum price will gradually appear, but the cost support alone is far from enough to resist the pressure brought by macro long and short, in addition, because the domestic economic growth rate is not as expected, downstream many enterprises said that the inventory backlog is serious and the orders are insufficient
.
On the whole, after July, the market is still facing the dual pressure of interest rate hikes and demand at both ends, it is expected that aluminum prices will continue to bear pressure downward, the trend is still weak, Shanghai aluminum short-term attention to 18700-19200 range fluctuations, the operation can be sold appropriately, it is expected that next week's spot aluminum shock is weak
.
