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Aluminum market afternoon commentary: U.
S.
stocks hit a seven-week low, and Lun aluminum continued to fall 1.
2% overnight; Aluminum companies at home and abroad have reduced production disturbances, but the domestic epidemic has hit again, the actual downstream consumption is weak, and the transaction is limited, and aluminum is expected to fall.
Yesterday's price rebound, on the one hand, benefited from the easing of macro pessimism, on the other hand, the global energy crisis, the possibility of production cuts still exists, all of which have played a certain role
in supporting aluminum prices.
Spot is subject to weak downstream demand, the market aluminum ingot aluminum rod transaction is still not optimistic, East China, Foshan, Gongyi areas have weakened, discount expanded, whether the demand side can pick up in September, still needs to be verified
.
Since August, Yunnan Province has experienced a shortage of water, which has led to the same tight electricity consumption in the region, and Yunnan aluminum enterprises are expected to increase production, but due to the delay in the production reduction expectations, the rise in aluminum prices and the deterioration of domestic demand affected by the epidemic, aluminum prices have fallen
again.
On the supply side: Daily production in September is expected to be flat
month-on-month.
Consumption: Downstream orders improved during the peak season, and medium-term demand was pessimistic
.
In the medium term, the domestic oversupply expectation is strong, the market is pessimistic about real estate demand expectations, and the space above aluminum prices is limited
.
