Interim Jiahe: Lun Aluminum ended slightly lower, Shanghai Al did not change its gains

Yesterday, LME Aluminum failed to extend its gains, showing an adjustment trend and a small close of US$3. It closed at 1,904 US dollars. A total of 12,121 lots were traded, and the trading volume was magnified compared to last Friday. However, the market is still watching the atmosphere very strong. The cautious situation has not changed. In terms of LME inventory, LME aluminum stocks decreased by 2575 tons, and the current total inventory was 501,325 tons. For the current Alluminium market, market traders are generally optimistic. The factors that support this kind of optimism are not only the current technical status and trend of futures prices, but also more basic information from the current market. Russia’s exports of primary aluminum to non-CIS countries rose by 13.1% from January to August this year, reaching 2.761 million tons, while exports of primary aluminum including the Commonwealth of Independent States countries totaled 2.768 million tons. The Moscow Alluminium producer SUAL Group plans to build an aluminum plant to increase production capacity. This series of export data shows that the current demand in the international market continues to grow. This is undoubtedly good news for Lenovo's future price outlook.

From the perspective of the domestic market, with the arrival of the peak season for consumption, China’s domestic aluminum industry has also seen a certain degree of recovery. After the “11th” long holiday, it was driven by the strengthening of the international basic metal market and the recovery of domestic consumption. Aluminum, which is not very active, has also come out of a clear and strong trend.

Today's Shanghai Aluminum main 0512 contract opened at 16,680 yuan, higher 17140 yuan, lower 16680 yuan, to close at 17,130 yuan at noon.

Operational: Long positions are held by a small amount, and no one will wait and see. (Zhao Wei)