Shanghai aluminum high narrow range volatility market actual trading is not good

Today's London aluminum high fluctuated in a narrow range, and the LME was reported at $2,398 / ton at 15:01 Beijing time for three months, up $10, or 0.
42%,
from the previous trading day's settlement price.

Today's Shanghai aluminum shock upward, Europe's two major aluminum smelters by the strike and power curtailment disturbance significantly reduced production, and the domestic supply side is also limited by electricity affected by the reduction of production more than expected, but at the same time also restricts the performance of the demand side, short-term consumer demand is difficult to improve significantly, so the upward range of Shanghai aluminum is limited
.

In terms of the market, today's spot trading price of the Yangtze River is 18540-18580 yuan / ton, down 10 yuan, discount 20-liter 20; Guangdong spot 18340-18400 yuan / ton, down 10 yuan, discount 220-discount 160; China reported 18600-18640 yuan / ton, down 10 yuan / ton
.
In the spot market, the price holders are weak, the downstream procurement demand is weak, and although the buyer has replenishment demand, he is still afraid of high prices, and the actual transaction is not good
.

Industry news, on August 22, Hydro's Sunndal aluminum plant in Norway and Mosjøen aluminum plant under Alcoa began to strike
.
On August 22, Hydro's Sunndal aluminum plant in Norway and Alcoa's Mosjøen aluminum plant began a strike
because Industri Energi and Norsk Industri failed to reach a collective agreement by the agreed deadline.
The strike will cause Sunndal to gradually reduce production by 20% over the first four weeks, and if the strike lasts longer than four weeks, it will reduce production by another 10% per week until one work area is finally kept running
.
The Mosjøen aluminium plant will halt product deliveries during the strike, reducing production by 20% by September 19, and another 10% every other week if the strike lasts longer than September 19, until 34 electrolyzers out of 404 cells remain in operation
.

At present, the overseas energy crisis is very persistent, coupled with the impact of strikes, two aluminum plants in Europe were significantly reduced in production in August.
The expansion of domestic power curtailment has led to weak supply and demand, of which Sichuan's limited power has affected the suspension of about 1 million tons of production capacity, and the pressure of oversupply has eased, while on the demand side, the operating rate of downstream processing enterprises has continued to decline, showing no signs of improvement; Under the interference of high temperature power limiting, the downstream receiving goods is mainly wait-and-see, and it is expected that aluminum will rise
slightly.