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On Friday, Shanghai aluminum continued to fluctuate strongly, and the spot discount expanded to 60 yuan
after the month.
There was a power shortage in many parts of the country, and Yunnan implemented another 25% power cut, and the existing production capacity had no impact, but nearly one million tons of suspended production capacity was postponed
.
Inner Mongolia and Guangxi also limited telecommunications
.
Henan's power cuts have a greater impact
on local processing.
This week, the social stock of aluminum ingots continued to fall by 26,000 tons to 830,000 tons, and the short-term gap still exists, pay attention to whether the second batch of reserves has changed
recently.
Shanghai aluminum continued to strengthen along the ascending channel, holding long positions for the time being, but there is resistance on the upper edge of the channel, waiting for the opportunity
to sell short at a high level.
Overseas, Hydro recently announced that extrusion equipment that had been idle a few years ago will be put back into service to meet the growing
demand for sustainable aluminium profiles.
Domestically, the peak of electricity consumption in summer, the problem of power shortage has once again become the focus, Inner Mongolia, Yunnan, Guangdong, Shaanxi, Henan many places issued power shortage signals, may affect the normal operation of electrolytic aluminum and the release of production capacity
.
In terms of the market, domestic demand still has a certain degree of resilience, after July Day processing and production gradually recovered, still in a state of destocking, Monday inventory fell 19,000 tons to 82.
2, demand showed good resilience, spot discount of 30 yuan / ton, export of unwrought aluminum and aluminum exports in 454,000 tons, an increase of 28.
36% year-on-year, a month-on-month increase of 3.
48%.
Power shortage has once again become the focus, the release of electrolytic aluminum production capacity in the southwest region will be postponed with a high probability, demand is still resilient, inventories remain degraded, and domestic aluminum prices are expected to fluctuate strongly
.
