商品日报（8月26日）：氧化铝承压大跌 焦煤午后快速回落

Group 1 - The domestic commodity futures market on August 26 saw more declines than gains, with notable increases in peanut, timber, NR, asphalt, SC crude oil, and Shanghai lead contracts rising over 0.5% [1] - The main contracts for aluminum oxide and coking coal fell over 3%, while industrial silicon, shipping Europe line, coke, and polysilicon dropped over 2% [1] - The China Securities Commodity Futures Price Index closed at 1436.98 points, down 4.61 points or 0.32% from the previous trading day [1] Group 2 - SC crude oil main contract briefly surpassed 500 yuan/barrel but ended with a modest increase of 0.53% [2] - Geopolitical tensions have eased, contributing to a rebound in oil prices, while concerns about potential disruptions in Russian oil supply have increased [2] - Analysts suggest that the oil market is adjusting from overly optimistic expectations regarding Russia-Ukraine negotiations, with long-term pressures from OPEC+ production increases and seasonal demand weakening [2] Group 3 - The main contract for gold opened strong but faced fluctuations, ultimately closing up 0.28% [3] - Concerns regarding the independence of the Federal Reserve have increased, positively impacting precious metals [3] - The market remains optimistic about precious metals in the context of a weak dollar and expectations of Fed easing, although short-term adjustments may occur if no further dovish signals are provided [3] Group 4 - Aluminum oxide main contract led the market decline with a drop of 3.49%, attributed to high production capacity and limited demand changes [5] - The supply of aluminum oxide is expected to remain loose, with current spot prices adjusting downwards by 10-15 yuan [5] - Coking coal main contract fell 3.17% due to weak market sentiment and limited demand growth, despite some support from high terminal demand [6]