Bulls concentrated on entering the market during the aluminum high slowly retreated

In terms of the external market, Lun aluminum jumped high at 2080 US dollars / ton in the morning, the opening short entry price fell slightly, and rose directly to a high of 2085.
5 US dollars / ton by the daily moving average, Lun aluminum hesitated in the shock all the way down to 2073.
5 US dollars / ton, bulls took advantage of the low entry, and then maintained a hovering posture, to the end of the Asian trading session The price moved up in the volatility, and at the end of the Asian session, touched the intraday high of 2091.
5 US dollars / ton
.
The bulls took profit and exited, and Lun aluminum turned down to a low of $2071 / ton, and the low rally brought it back to around
$2082 / ton.
As of 18:00, Lun Aluminum closed at 2080.
5 US dollars / ton, standing on the 20-day moving average
.

In terms of the market, the center of gravity of Shanghai aluminum moved up, and the aluminum rose before noon that month
.
Shanghai transaction concentration 14390 ~ 14400 yuan / ton, for the month discount 80 ~ 70 yuan / ton, Wuxi transaction concentration 14390 ~ 14400 yuan / ton, Hangzhou transaction concentration 14390 ~ 14410 yuan / ton
.
Traders are willing to sell, the market bullish sentiment is getting stronger, coupled with the belief that the discount shows no signs of expansion, the willingness of middlemen to receive goods is positive, downstream enterprises purchase according to just demand, and the overall transaction maintains the activity
between traders.
In the late afternoon, aluminum first fell and then rose, and East China traded 14370~14390 yuan / ton
.

In terms of inventory, on July 30, statistics on domestic electrolytic aluminum consumption inventory data showed that Shanghai area was 415,000 tons, Wuxi area 761,000 tons, Gongyi area 162,000 tons, Nanhai area 229,000 tons, Tianjin area 53,000 tons, Hangzhou area 110,000 tons, Chongqing 22,000 tons, Linyi 28,000 tons, consumption area aluminum ingot inventory totaled 1.
78 million tons, down 15,000 tons
from last Thursday.
The continued decline in electrolytic aluminum inventories is related
to export growth.
Customs data showed that alumina exports in June were 118,000 tons, the highest since
2002.
The total export volume of alumina from May to June was 208,000 tons
.

Important news at home and abroad:

1.
The continuous decline in electrolytic aluminum inventories is related
to export growth.
Customs data showed that alumina exports in June were 118,000 tons, the highest since
2002.
The total export volume of alumina from May to June was 208,000 tons
.

2.
China Aluminum Can announced that on July 30, 2018, Guangdong Eastern Europe Asia Packaging Co.
, Ltd.
, an indirect non-wholly-owned subsidiary of the company, intends to acquire from Technopack s.
r.
l.
for about HK$54.
74 million for a new automated production line for the production
of aluminum aerosol cans.