On Wednesday, the main monthly 2309 contract of Shanghai Aluminum opened at 18520 yuan/ton, with a high of 18590 yuan/ton and a low of 18480 yuan/ton during the trading session. It closed at 18525 yuan/ton at the end of the trading session, a decrease of 60 yuan or 0.32%.

In terms of external trading, LME aluminum rebounded wearily and then fluctuated downwards. LME reported at $2241/ton at 15:01 Beijing time for three months, a decrease of $12 or 0.55% from the settlement price of the previous trading day.

On a macro level, Fitch downgraded the credit rating of the United States, but the US employment data showed strong performance, and the resilience of the US economy still exists. However, the tight monetary policy is highly certain to be coming to an end, and the downward trend of the US dollar index remains unchanged in the medium term. Domestically, after the * * meeting, there have been frequent stimulus policies recently, and market optimism has significantly strengthened.

In terms of the market, the spot trading price of the Yangtze River ranges from 18520 to 18560 yuan/ton, a decrease of 40 yuan/ton, with a discount of 55 to 15 yuan; Guangdong spot price ranges from 18540 to 18590 yuan/ton, with a drop of 40 yuan/ton and a discount of 35 to 15 liters; The price in Shanghai ranges from 18510 to 18550 yuan/ton, a decrease of 60 yuan/ton, with a discount of 65 to 25 yuan. The enthusiasm of large buyers for receiving goods is not ideal, and the holders are under pressure to adjust prices and ship goods in line with the market. The receivers are afraid of high prices and observe, and their purchasing willingness has decreased. The market continues to weaken in the later stage, and the holders continue to lower their prices. The overall trading situation is unsatisfactory.

During the day, Shanghai aluminum prices fluctuated and weakened, with internal and external macro differentiation. Basic metals generally weakened, and the performance of Shanghai aluminum fundamentals was average with limited support. Positive policies are still in the expected stage, and aluminum prices are under pressure to decline in the short term. However, with the support of favorable real estate policies, downstream operating rates have rebounded, and the aluminum warehouse receipts in the previous period are still in a low downward trend, the downward trend of Shanghai aluminum is limited.