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Shanghai aluminum afternoon comment on August 2

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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Overnight, the main force of Shanghai aluminum 1909 opened at a lower position of 13830 yuan / ton, after the evening opening volatility stabilized, hovering below the daily moving average 13810 ~ 13840 range, above at 13840 yuan to form a significant resistance, the end of the session ended at 13820 yuan / ton, down 35 yuan / ton from the daytime closing price, down 0.
25%.

Shanghai aluminum

From a fundamental point of view, yesterday's SMM statistics domestic electrolytic aluminum inventory accumulated 5,000 tons to 1.
04 million tons a week, inventory accumulation verified that consumption in July and August was weak, aluminum prices lacked sustained upward momentum in the short term, partial shock, it is expected that today's operating range is between 13800-13900 yuan / ton, spot liter discount between 20-liter 20 yuan / ton
.

The AOO aluminum ingot price in East China was 13890 yuan / ton, down 30 yuan
.
The effect of Sino-US trade negotiations is not satisfactory, the market is worried about the risk of global economic slowdown, risk aversion is heating up, downstream consumption has not improved significantly, and spot aluminum prices are expected to fall
today.

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