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As of the close of 3 p.
m.
, the main 2104 contract of Shanghai aluminum closed down at 17245, down 295, or 1.
68%.
Affected by the recent rapid decline in macro sentiment, Shanghai aluminum continued its pullback trend during the day, but the decline slowed down after midday, and the main force temporarily stabilized above
17,000.
From a fundamental point of view, the current downstream start is progressing relatively smoothly, the market has gradually resumed normal production, but short-term accumulation or will continue until the opening of peak season demand, follow-up consumption if it can meet market expectations, low inventory will form a further positive for aluminum prices, in the medium and long term, aluminum prices still have the possibility of rising, Shanghai aluminum main force above the focus on the 18,000 mark, operationally recommended can be bargain appropriately purchased, it is expected that next week spot aluminum may stop falling and rebound
.
In terms of fundamentals, on the 4th, the inventory reported 1.
173 million tons, an increase of 91,000 tons from last Thursday, and the arrival peak was late; During the same period, the steel union statistics aluminum rod inventory of 275,000 tons, unchanged from last week, aluminum rod instead of aluminum ingot relative advantage is significant, destocking significantly; aluminum prices rose fiercely, spot pressure discount
.
