Brief review of the aluminum market on August 1

On Wednesday, the main 1909 contract of Shanghai aluminum was adjusted
in shock.
The Politburo meeting of the CPC Central Committee pointed out that real estate is not used as a short-term means of stimulating the economy, superimposed on the high operation of the US dollar, which has put some pressure on aluminum prices, but China's manufacturing PMI data in July has rebounded, and Sino-US trade negotiations have been launched, superimposed on the continuation of aluminum inventory, which has supported aluminum prices
.

South Reserve South China aluminum ingot quotation 13840-13940 yuan, the average price of 13890 yuan, down 10 yuan, the month discount of 5 yuan, aluminum price is stable, traders and downstream willingness to receive goods increased, at the end of the month the carrier shipment interest is not high, circulation is tight, trading is better than the previous day, the mainstream transaction price is concentrated between 13880-13900 yuan, compared with the average price of South China South China premium -10~10 yuan
.

Nanchu East China aluminum ingots quoted 13890-13930 yuan, the average price was 13910 yuan, up 10
.
Yangtze River: 13890-13930, 13910 up 10
.
Traders received goods actively in the morning, holders shipped at high prices, the transaction was deadlocked, aluminum prices rose in the early afternoon, the shipment strength of holders converged, the spot quotation was raised, and the overall transaction in East China was general
.
The transaction is mainly concentrated between 13900-13920 yuan, which is between -10~10 yuan than the average price of South Reserve East China
.

In terms of spot, although the price has risen slightly, the holders have not further actively shipped, on the contrary, some middlemen, the expectation of the future market is good, the receipt of goods is more active, so that the market transaction price performance is firm, the downstream is still based on on-demand procurement
.
Technically, the main 1909 contract MA5 of Shanghai aluminum crossed MA10 on the daily line, and short-term volatility is expected to be strong
.