Market sentiment improved and aluminum prices were supported

In terms of the market, the Shanghai aluminum August contract opened higher, the morning holder's premium quotation narrowed slightly from last Friday, and the actual transaction price also rose sharply with the market, but the market recognition was not high, and the transaction was slightly average
.
Subsequently, the market soared and fell, and the price of the holder's premium expanded again earlier, and the actual transaction price also fell slightly, but the overall rise was still obvious, and the overall transaction was average
.

Shanghai transaction concentration is 14060~14080 yuan / ton, the discount for the month is 80~60 yuan / ton, Wuxi transaction concentration is 14060~14080 yuan / ton, Hangzhou transaction concentration is 14060 ~ 14080 yuan / ton
.
Holders are actively shipped, aluminum rises sharply, downstream enterprises demand is not good, and not optimistic about aluminum prices, wait-and-see sentiment is strong, procurement is less, middlemen take advantage of the time difference in the period aluminum price difference, a small number of traders properly stocked, the overall transaction is slightly worse
.

Guangdong spot market transaction concentrated in 14200 ~ 14210 yuan / ton, Guangdong and Shanghai price difference expanded to 130 yuan / ton, due to the higher price, local holders are willing to ship positively, the market supply is abundant, but the middleman and downstream performance fear of high aluminum prices are more wait-and-see, insufficient willingness to receive goods, Guangdong market aluminum ingot spot transaction is not good, aluminum rod processing fees face the same problem, middlemen and downstream fear of high aluminum prices, so processing fees have been reduced
.

In terms of inventory, during the day, the aluminum warehouse receipt of the previous period was 725749 tons, down 2173 tons
from the previous trading day.
As of July 23, LME aluminium stocks rose by 875 tonnes to 1209275 tonnes
.

Industry information, the International Aluminum Association IAI announced that global electrolytic aluminum production in June was 5.
321 million tons, down 2.
9%
year-on-year.
Electrolytic aluminum production outside China reached 2.
291 million tons, an increase of 1.
8% year-on-year, marking the 16th consecutive month of positive growth
.
Electrolytic aluminum production in China decreased by 6.
2% year-on-year to 3.
03 million tons
.
The production of electrolytic aluminum decreased year-on-year, and the news was positive
.

On the whole, many alumina plants in Shanxi stopped production and maintenance and flexible production, and alumina prices stopped falling and rebounded, which was good for aluminum prices
.
Market sentiment improved, and the dollar retreated from its highs, which was positive for non-ferrous metals
.
Technically, the 5-day moving average and the 10-day moving average golden cross, MACD indicator red column amplified, it is expected that the main force of Shanghai aluminum 1809 short-term continuation of strong, operating range 14100--14600, for reference
only.