Shanghai aluminum afternoon review on September 14

U.
S.
stocks and crude oil performed weakly last week, and Shanghai aluminum followed the overall decline of non-ferrous metals, with strong support
around Wansi.
Near delivery, the spot premium of aluminum ingots fell
back.
Last week, the social inventory of aluminum ingots increased slightly by 10,000 tons, due to the improvement of exports and the resilience of domestic consumption, the market still has expectations for peak season destocking in the case of steady growth of electrolytic aluminum operating capacity, and the expectation of market feedback is poor
.
The probability of short-term aluminum price fluctuations is large, and the idea of buying a pullback above 10,000 is still maintained
.

The latest data of electrolytic aluminum social inventory is 764,000 tons, down 01,000 tons from the previous value, and the inventory has not changed much
.
In terms of consumption, since August, the marginal consumption of electrolytic aluminum has weakened, cable orders have declined significantly, and weak demand has been the main reason
for the shock in aluminum prices in the past two months.
Entering September, the market has certain expectations for the peak consumption season of gold, silver and ten, if the peak season is expected to be cashed in to the consumption of electrolytic aluminum will have a certain pull, then electrolytic aluminum will be opened again to go to the warehouse
.
It is expected that the recent aluminum price volatility will be the mainstay, and the subsequent consumption of the peak season needs to be paid attention to
.