April 13 Shanghai aluminum brief comment

Aluminum prices are rising rapidly in the short term, and the willingness to stock downstream is suppressed, which is not conducive to the smooth transmission
of aluminum prices in the industrial chain.
Under the game of increment brought by the storage dumping policy and reduction brought by the carbon neutrality policy, aluminum prices are likely to follow the logic
of demand fundamentals to promote destocking.
Therefore, under the explosion of no unexpected factors, aluminum prices may continue to maintain a narrow range
.

Overseas, it is necessary to pay attention to the vaccination and epidemic control status in Europe and the United States, and pay attention to the progress of infrastructure projects in the United States, which may bring deviations
from market expectations.
In the short term, aluminum ingots open to destocking, but it is difficult to accelerate destocking, and the upward momentum of aluminum prices may gradually weaken.