Fundamentals are still slightly weak, and aluminum prices are mainly adjusted by small shocks

In the external market, Lun Aluminum rose strongly, with a cumulative weekly increase of more than 3%; The continued weakening of the US dollar index during the week boosted market confidence, and London aluminum rose strongly, rising as high as 1804 US dollars / ton; At present, the steady recovery of the global economy still has a certain positive effect on Lun Aluminum, but considering that Sino-US relations have not yet stabilized, and the ups and downs of the stock market have also had a certain impact on aluminum prices, in the short term, Lun Aluminum may still continue to fluctuate strongly, and is expected to climb again by $
1800.

In terms of the market, prices continued to rise, the enthusiasm of holders to ship was acceptable, and the market supply was relatively abundant, but in the traditional off-season in August, the number of new orders for profiles, strips and cables gradually declined, and the weakening of market demand dragged down the consumption of aluminum ingots, and the overall transaction was average
.

East China: Although the domestic mainstream area electrolytic aluminum inventory in the off-season, but the US dollar has repeatedly hit a new low, and the global economic recovery and other multiple favorable support, market confidence has improved, this week aluminum prices first fell and then rose, the center of gravity moved up significantly, as of this Friday East China spot aluminum prices between 14820-14860 yuan / ton, up 280 yuan / ton
from last Friday.

South China: As of Friday, the price of Foshan Nanhai aluminum ingot tickets was between 15040-15140 yuan / ton, up 310 yuan / ton from last Friday; Inventories in South China fell slightly this week, significantly weaker than East China, so prices were relatively firm
.
Prices continue to rebound, downstream companies are more afraid of heights, wait-and-see or buy on demand, coupled with the reduction of off-season orders, there are not many
actual stockpilers.

In terms of stocks, domestic social electrolytic aluminum stocks during the week were 116,000 tons in Shanghai, 23.
7 tons in Wuxi, 100,000 tons in Hangzhou, 47,000 tons in Gongyi, 194,000 tons in the South China Sea, 58,000 tons in Tianjin, 7,000 tons in Linyi, 03,000 tons in Chongqing, and the total inventory of aluminum ingots in consumption was 762,000 tons, an increase of 25,000 tons
from last Thursday.

After several consecutive days of rise, aluminum prices returned to a high level, rising to 14,985 yuan / ton, with a cumulative weekly increase of about 2.
1%; Boosted by the macro good news, the rise of Shanghai aluminum in the week is more obvious, but in the off-season, the contradiction between domestic supply and demand is still continuing, the accumulation of bearish factors, the rise in aluminum prices has slowed down, but considering that the market has certain expectations for the recovery of demand in the peak season in September, aluminum prices may continue to run at a high level in the short term, and the overall adjustment is mainly based on a small shock adjustment, and the main force of Shanghai aluminum can continue to pay attention to the pressure level of 15,000, and the spot aluminum shock is expected to be stable
.