The upward pressure on aluminum prices is large, and the risk of falling back before the holiday is still there

On the macro front, U.
S.
jobless claims rose slightly from a near four-month low of 213,000 last week, suggesting that demand for workers remains healthy
despite the increasingly uncertain economic outlook.
Renewed claims for unemployment benefits for the week ended September 10 were 1.
379 million, compared with 1.
403 million
in the previous month.

Industry news, the latest report data released by the World Metal Statistics Bureau (WBMS) shows that the global primary aluminum market has a supply shortage of 916,000 tons from January to July 2022, and a supply shortage of 1.
558 million tons
for the whole of 2021.
In the first seven months of this year, global primary aluminum demand was 40.
192 million mt, down 215,000 mt
from the same period last year.
Global primary aluminum production decreased by 0.
7%
during this period.

Although the Fed's interest rate hike boots landed, the market sentiment has eased, but the market for November and December interest rate hike expectations have strengthened again, the dollar continues to rise, metal trends are under pressure to fall, Shanghai aluminum also high pullback, the rise has also narrowed to 0.
11%, the current domestic market peak season is not strong, the traditional gold nine has not been cashed, and next week's National Day holiday is approaching, the market mentality is still unstable, manufacturers are not willing to stock up, so short-term aluminum prices upward pressure is greater, pre-holiday risk is still there
.