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On Friday, Shanghai aluminum opened low overnight, rushed back down to close at 14500, driven by the strong external market, aluminum prices continued to be high in the short term
.
Affected by the escalation of Sino-US friction and the difficult production of a new round of fiscal stimulus plans in the United States, non-ferrous metals generally declined, and Shanghai aluminum realized and resisted
.
Last week, the social inventory of aluminum ingots rebounded by 20,000 tons, downstream consumption seasonally weakened, the monthly difference narrowed, the spot premium fell, the contract bulls of the month sharply reduced their positions, and the off-season market appeared
.
The launch of new production capacity and the inflow of imported goods in Yunnan and other places have increased, but the problem of tight deliverable supply still exists
.
Short-term Shanghai aluminum high adjustment, continue to pay attention to the change of positions and monthly difference, it is recommended to wait and see
for the time being.
At present, the market sentiment is cautious, the technical pattern is weakening, and the medium-term uncertainty is high
.
Follow-up spot gradually entered the off-season, and pay close attention to the spot situation
in the later stage.
Shanghai aluminum upper pressure 15000, lower support 13500
.