Balanced market conditions, aluminum prices remain unchanged

Last week, local aluminum prices fell by nearly RMB 100/t. Due to the recent decline, Dachang's reluctant sellers appear to have shaken their confidence and shipments have risen slightly. Small factories have been affected by the pressure of liquidity, and they have generally adopted the arrival-to-sale approach. The increase in market supply has led to last week’s aluminum prices. Pressure fell. Today's local aluminum market continued its flat market last weekend. The market is still watching the atmosphere is very strong, and the market is trading in sporadic positions. The market price is maintained at yuan/ton. The fact that the aluminum prices have remained unchanged in recent days indicates that the local aluminum market is in a pattern of balance between long and short power. After entering August, the funds available for the downstream aluminum enterprises at the beginning of the month are more abundant. This week's market consumption situation may be slightly improved. However, due to a slight rise in local inventory to a level of more than 20,000 tons, and there is still shipping in the market, the aluminum market may form a new equilibrium pattern. As a neutral factor, the period market is expected to maintain the range oscillation in the short term and it will not be able to guide the direction of the spot market. This week, aluminum prices may still maintain a narrow range of fluctuations.