Shanghai aluminum has recently maintained stability and volatility, or there may be a weak possibility

From the perspective of futures, the long trend of Hulun aluminum has not been destroyed, and the market is still digesting the large profit orders
accumulated in the early stage.
Pay attention to the cumulative effect
of the country's recent intensive regulation and control policies on coal and electricity markets.
Next week, aluminum prices are expected to continue to maintain a volatile trend
.
Watch for continued strength for subsequent bulls
.

From a macro perspective, the withdrawal of monetary easing by European and American central banks is basically a certainty, and the impact of the epidemic is gradually fading; The resumption of dialogue between China and the United States has eased market worries
.
From the perspective of domestic industry fundamentals, the fundamentals are bullish and unchanged, the dual control of energy consumption continues to push up coal prices sharply, and power shortage continues to drag down supply
.

In terms of news, under the influence of the national dual control of energy consumption and power rationing and production restrictions, Guangxi, Xinjiang and Yunnan regions have reduced electrolytic aluminum production in August, and primary aluminum production in August decreased for four consecutive months, hitting the lowest level
in more than a year.
Recently, electrolytic aluminum enterprises in Qinghai and Ningxia have received power and production restrictions, and supply-side restrictions have been upgraded
again.
However, affected by limited electricity and high aluminum prices, downstream consumption is not optimistic, and domestic inventories continue to accumulate.

On the whole, affected by the weak operation of downstream consumption, the price of Shanghai aluminum has retraced before the holiday, but the supply side of electrolytic aluminum continues to be limited, and it cannot be alleviated in the short term.