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Overnight, the main Shanghai aluminum 2209 closed at 18695, up 15, and LME aluminum closed at 2482.
5, up 17.
5
.
In the past two weeks, after briefly coming out of the volatile convergence market, aluminum broke through the 10,000-eight mark and the 20-day moving average in the middle of last week, indicating that the short-term trend has turned strong
.
On the macro front, the Fed raised interest rates by 75 points as scheduled, and the policy statement still emphasized inflation risks, accelerating the balance sheet reduction in September as planned, but did not believe that the economy was in a state of recession; The annualized preliminary value of US GDP in the second quarter shrank by 0.
9, falling into contraction
for two consecutive quarters.
The manufacturing PMI in July was 49.
0%, down 1.
2 percentage points from the previous month, falling back below the critical point, and new orders and production indexes shrank
across the board.
The US interest rate hike landed as scheduled, macro sentiment eased, and domestic high-level emphasis on guaranteeing the handover of buildings boosted aluminum market sentiment
.
Fundamentally, aluminum maintains a weak supply and demand, domestic social inventory de-localization slows down, and price rebound space is under pressure
.
It is expected that this week's long-short game, aluminum to maintain shock operation, Shanghai aluminum or run at 17800-19200 yuan / ton, overseas energy prices high volatility, material aluminum shock run at 2400-2550 US dollars / ton
.
