April 11 aluminum market noon review

On Friday, Lun aluminum rushed back down and turned lower to close in the clouds, opening slightly lower at $
3360 today.
Shanghai aluminum opened low and closed low overnight, closing at 21730
.
Shanghai aluminum trading declined, positions were stable, and market sentiment was biased towards
neutrality.
The situation in Russia and Ukraine has a greater impact on the market, and the short-term adjustment of Shanghai aluminum continues to adjust, and the medium-term fundamentals are acceptable, not overly pessimistic
.
The upper pressure is 24000, and the lower support is 21000.

Domestic destocking trend affected by the epidemic has been broken, and the beginning of destocking in the current low inventory state has driven domestic aluminum prices to maintain a high level, overseas inventories to maintain a low level, and overseas prices are expected to remain high before the end of the Russian-Ukrainian conflict
.
Overall, the Shanghai lockdown has an impact on downstream electrolytic aluminum consumption, and aluminum ingots have begun to accelerate the resumption of production while downstream demand weakens during the consumption season, but low inventories at home and abroad support electricity price aluminum prices, and the overall trend of domestic aluminum prices is expected to be weak
in January.