Some bears took profits, and the center of gravity of Shanghai aluminum rose steadily

In terms of the external market, Lun aluminum opened at 1582.
5 US dollars / ton in the morning, and the Asian session Lun aluminum around the daily average was narrowly sorted, failing to exceed 1588 US dollars / ton, into the European trading session, Lun aluminum rose slightly, the high touched 1593 US dollars / ton, and after a short stay, it fell back below the daily moving average again, as of 17:30, Lun aluminum closed at 1581 US dollars / ton
.

On the macro front, the ISM non-manufacturing index in the United States reached 51.
4 in August, the lowest since February 2010, and significantly lower than the expectation of 55 and the previous reading of 55.
5
.
The dollar index extended its losses to 1%, updating its low since August 26 to 94.
821
.
German July seasonally adjusted factory orders were 0.
2% m/m vs.
0.
5% expected, and the previous value was revised to -0.
3%
from -0.
4%.
Adjusted for business days, factory orders were -0.
7% y/y versus -0.
2% expected, and -3.
0%
prior-year from -3.
1%.

In terms of the market, yesterday's morning aluminum leakage, the downstream wait-and-see mood of the two cities is strong, the transaction is not smooth, and traders have difficulty
shipping.
The average price of Yangtze River aluminum ingots was 12420 yuan / ton, down 180 yuan / ton
.
The average price of South China was 12410 yuan / ton, down 160 yuan / ton
.
Alumina prices remain unchanged
.

In terms of industry, the Zhejiang plant, a large recycled aluminum alloy manufacturer, is expected to put into operation 100,000 tons by the end of the year, and the plant has a design capacity of 300,000 tons
.
At the same time, the plant's plant in Shanghai will be gradually shut down to complete the capacity replacement
.
In addition, according to media statistics, electrolytic aluminum production increased slightly to about 2.
74 million tons in August, an increase of 2.
2% month-on-month and 5%
year-on-year.

To sum up, some bears loosened their stance, and Shanghai aluminum bottomed out and rebounded to recover 12,000 yuan / ton
after the plunge.
Although the supply release is slightly concentrated in the short term, speculative funds may have amplified the adjustment of Shanghai aluminum
.
Operationally, it is recommended to maintain a wait-and-see basis, you can try short-term long below 11900 yuan / ton, and take profit and stop loss of 200 yuan / ton
each.