下游处于消费淡季 铝合金价格或将继续震荡运行

News Summary Core Viewpoint - The domestic recycled aluminum alloy ingot inventory has stabilized, ending a continuous accumulation trend since early May, with supply tightness persisting in the market [1] Supply and Inventory - As of August 7, the social inventory of recycled aluminum alloy ingots in major consumption areas was 33,400 tons, remaining stable compared to the previous week [1] - The operating rate of recycled aluminum alloy enterprises has not changed significantly, and the supply of scrap aluminum remains tight, leading to poor profit margins for aluminum alloy manufacturers [1] - On August 13, the daily social inventory of recycled aluminum alloy ingots in Foshan, Ningbo, and Wuxi totaled 31,611 tons, an increase of 138 tons from the previous trading day and an increase of 393 tons from August 6 [1] Market Sentiment and Price Dynamics - According to Yide Futures, the downstream aluminum alloy market is still in a consumption off-season, but financial demand is increasing, indicating a "not-so-weak" off-season; alloy manufacturers are in a profitable situation [2] - Guoxin Futures notes that aluminum alloy prices are running strong alongside Shanghai aluminum, with scrap aluminum prices rising to high levels, which increases the cost of aluminum alloys and supports bottom price levels [2] - The pressure from the consumption off-season continues to suppress both spot and futures prices of aluminum alloys, with inventory data showing a state of accumulation and remaining at historically high levels [2]