Fundamentals remain weak Aluminum prices are still expected to weaken

Today, Lun aluminum jumped high and then fell in shock, and the LME reported at $2403 / ton at 15:01 Beijing time for three months, down $30, or 1.
23%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 18200-18240 yuan / ton, down 450 yuan, with a discount of 25-15 liters; Guangdong spot 18100-18160 yuan / ton, down 430 yuan, discount 120-discount 65; Hua reported 18260-18300 yuan / ton, down 440 yuan / ton
.
Today's aluminum market weakened, holders sharply reduced the dumping of goods for cash, downstream bargaining enthusiasm slightly increased, but bearish sentiment, mostly to reduce prices on demand procurement, trading appears to be general, the overall trading volume has increased
.

Today's Shanghai aluminum trend is weak, macro sentiment is weak, while the dollar continues to rebound, and aluminum fundamentals are still weak, aluminum ingot social library is still facing cumulative pressure, spot trading performance in the off-season is weak, and aluminum prices continue to rise during the day
.

At present, the domestic aluminum fundamentals are still weak, downstream demand continues to be sluggish and the difficulty of shipments increases, and aluminum ingot inventories are still facing cumulative pressure, August 11 domestic electrolytic aluminum social inventory of 693,000 tons, an increase of 15,000 tons from last Thursday's inventory, so that the price upside is limited, due to the weak market demand expectations and downstream order recovery has not been strong, aluminum prices are still expected to weaken, now aluminum or fall.