Shanghai aluminum as a whole still maintains an upward trend

In terms of spot, the performance is even stronger, and it has always maintained a high premium trend
.
From the fundamental point of view, the upstream alumina price is consolidating at a high level, and the center of gravity of fluctuations has returned to the 19-year average, and the support of the cost side of electrolytic aluminum is relatively stable
.
In terms of downstream demand, seasonal factors have kept the operating rate of aluminum foil aluminum at a high level, and other aluminum processing industries have fallen slightly in the rainy season, so the overall impact is neutral and empty
.

In addition, due to the current high level of aluminum prices, the speed of new electrolytic aluminum production capacity is also accelerating, so after a period of time, the easing of the supply side will become a strong driver to suppress aluminum prices
.
Finally, the continued low running of aluminum ingot inventories is the biggest driving force
for aluminum prices to remain strong.

From the plate point of view, the speculation of the capital brings the price all the way, the future will face the pressure level above the 15,000 strong, the impact of fundamentals in the current background of loose funds is getting weaker and weaker, more or pay attention to the emotional factors of the market, it is recommended that Shanghai aluminum maintain a short-term long view, medium and long-term can consider selling short at the high, and pay attention to the trend
of capital turning at any time.