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Under the broken box and then strong rebound along the bottom, the disk surface tangled, short-term narrow weak finishing

Opinion: Poor domestic demand caused commodities to fall again, the Fed’s dovish comments led the dollar to fall back colored rebound, macro macro bearish interwoven continued; On the supply side, the marginal impact of the tight supply of domestic bauxite is gradually small, and the supply of alumina is relatively stable when Indonesia liberalized its export. On the demand side, the power system has steadily increased, the photovoltaic production has continued to increase, the automobile production and sales volume may face a “rise in the east and fall in the west”, the downstream aluminum rod processing fee has remained stable, and the consumption increase has been continuously paid attention to. The fall in aluminum prices has a limited boost to the downstream, the primary processing is weak, and the high-end processing is tight. On Wednesday, Shanghai aluminum trading volume broke the short-term box shock range, the night plate jumped short rebound, the disk tangled continued, and the short-term 20000 support level was strong. In the future, attention is paid to the trend of funds and the guidance of trading volume, 20000-20800 weak volatility.

On July 10, the aluminum inventory of the previous period was reduced by 497 tons to 149,256 tons; LME aluminium inventories fell by 1,500 tonnes to 987,025 tonnes.

Technical: 08 contract Wednesday night slightly jump high open, 20140-20265 high fall 20170, reduce 6185 hands, active trading; Weighted contracts slightly jumped high open, 20186-20295 high fell to 20202, reduced positions 5761 lots, active trading, MACD green column temporarily longer, downward momentum is still there, 20000-20800 weak volatility, pay attention to 20000 support and macro guidance.

The Implementation Plan for Promoting Industrial equipment renewal and technological Transformation in Jiangxi Province mentioned that the replacement of inefficient and old equipment should be accelerated. We will accelerate the upgrading and technological upgrading of old and inefficient equipment in traditional industries such as petrochemicals, nonferrous metals, building materials, steel, textiles, food, medicine, furniture, shipping, and ceramics. The non-ferrous industry accelerated the updating of automatic mining equipment, copper smelting furnace green upgrading equipment, high-performance cemented carbide material manufacturing equipment, high-performance copper product manufacturing equipment, tungsten green smelting technology equipment, rare earth smelting process equipment, aluminum profile production equipment.
On July 9, Mingtai Aluminum announced that it is expected to achieve a net profit attributable to shareholders of listed companies of 1 billion yuan to 1.1 billion yuan in the half year of 2024, an increase of 197 million yuan to 297 million yuan compared with the same period last year, an increase of 25% to 37%. Net profit attributable to shareholders of listed companies in the second quarter of 2024 ranged from RMB638 million to RMB738 million, an increase of 76% to 104% compared to the first quarter of 2024.
On July 9, Haomei New Materials announced that the company expected the net profit attributable to shareholders of listed companies in the half year of 2024 to be 115 million yuan to 135 million yuan, an increase of 71.26% to 101.05%. During the reporting period, the company focused on the transformation and development of system doors and Windows and automotive lightweight aluminum profile business maintained a good development trend, and production and sales maintained a rapid growth rate compared with the same period last year.

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