Shanghai aluminum intraday low volatility peak season consumption expectations are optimistic

Today's London aluminum is running strongly, and the LME three-month aluminum Beijing time is at 1820 US dollars / ton at 15:01, up 1.
5 US dollars, or 0.
08%,
from the settlement price of the previous trading day.

In terms of the market, today's spot trading price of Yangtze River is 14500-14540 yuan / ton, down 170 yuan; Guangdong South Reserve reported 14540-14600 yuan / ton, down 190 yuan; Hua reported 14610-14630 yuan / ton, down 180 yuan
.
Holders are reluctant to sell, traders buy at low prices, and the downstream replenishes the appropriate amount, and the transaction turns good
.

In terms of fundamentals, alumina prices stabilized and anode prices continued to rise; Electrolytic aluminum production capacity accelerated to recover, a large number of production capacity started to resume production, Inner Mongolia Chuangyuan was put into operation, and new projects in Yunnan will be put into operation; On the 31st, SMM aluminum ingot inventory reported 755,000 tons, unchanged from last Thursday; unwrought aluminum imports in July reached a new high, as high as 373,000 tons, of which aluminum ingot imports exceeded 180,000 tons, 120,000 tons in June; the short-term import window opened again, supply will increase in the near future, spot premium pressure will increase
.

In the medium term, it is about to enter the peak consumption season, and consumption expectations from September to October support aluminum prices; Short-term spot premium is weak, the spot market supply is abundant, the medium-term import window limits the rise of Shanghai aluminum, it is expected that the short-term trend of Shanghai aluminum will remain volatile, it is recommended to buy on the dip or buy near and sell far
.