Shanghai aluminum shows a short, long-short trend, and the market trading sentiment has improved

In terms of the market, the average price of spot Yangtze River was 17130 yuan / ton, up 180 yuan / ton, and -50 yuan / ton
in the month.
The average spot price of Nanchu was 18160 yuan / ton, up 180 yuan / ton, and the discount for the month was 20 yuan / ton
.
Trading sentiment in the spot market improved, and the overall transaction was better
.
On September 29, the social stock of aluminum ingots was 612,000 tons, down 54,000 tons from Thursday, and the social stock of aluminum rods was 97,000 tons, down 29,000 tons
from Thursday.

On the macro front, the final real GDP of the United States contracted by 0.
6% annualized in the second quarter, recovering from the 0.
9% contraction in the preliminary value, but it was still the second consecutive quarter of contraction, and the economy fell into a technical recession
.
The final value of the core PCE price index in the United States rose 5.
6% annualized in the second quarter, well above economists' expectations of 4.
4%.

Industry news, LME (London Metal Exchange) is considering an important step to ban the delivery of Russian metals to its registered warehouses, Lun aluminum jumped with the help of this news, Rusal accounts for nearly 6% of global production capacity, if the ban on Russia, will affect the supply side to lead to warehouse receipt inventory tight There is a greater risk of forced positions, and at the same time it may lead to overseas spot premiums higher, short-term domestic aluminum prices are also driven upward
。 However, in the long run, if Rusal is sanctioned, the possibility of Rusal flowing into Asia or flowing into China through other channels increases, putting pressure on domestic supply, and it is expected that Shanghai Aluminum will show a short, long-short trend, and it is recommended to operate
cautiously before the news falls.