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The overnight futures market was volatile in non-ferrous metals, and Shanghai aluminum followed the market to remain sideways
.
Today's aluminum prices are expected to change little
.
The LME was closed, and the aluminum warehouse receipt of the previous period was 12,884 tons, down 2,867 tons
from the previous trading day.
In terms of spot, the mainstream spot trading price in Shanghai, Wuxi and Hangzhou markets is concentrated between 14740-14780 yuan / ton, and the spot price rises 10-50 yuan / ton
.
On August 31, statistics on domestic electrolytic aluminum social stocks (including SHFE warehouse receipts): Shanghai area 121,000 tons, Wuxi area 24.
2 tons, South China Sea area 179,000 tons, Hangzhou area 84,000 tons, Gongyi area 67,000 tons, Tianjin 54,000 tons, Chongqing 02,000 tons, Linyi 06,000 tons, consumption area aluminum ingot inventory total 755,000 tons, stable from last Thursday at 755,000 tons
.
Yesterday, it was announced that the domestic manufacturing PMI for August was lower than expected, and the flat inventory made the logic of destocking not smooth, and Shanghai aluminum reduced its position adjustment
.
The profit of the electrolytic aluminum industry remained high, but in July and August, the new production capacity was limited and the output increase was not much
.
At present, the focus is on the realization of demand from expectations to reality, and the inventory decline still needs to be confirmed, waiting for the verification signal process aluminum prices turn volatile
.
From a medium-term perspective, electrolytic aluminum output accelerated after October, and the growth rate of consumption was slightly weaker, resulting in the occurrence of accumulation and leading to the risk of turning to the long market
.
