April 7 aluminum market noon comment

Overnight, Lun aluminum rushed back down to close Changyang, opening slightly lower to $2257 today
.
Shanghai aluminum opened high and low yesterday, and the night trading stabilized and rose slightly at the 5-day moving average, closing at 17585
.
Shanghai aluminum trading declined, positions rose, and market sentiment was strong
.
Rumors of selling stocks faded, market sentiment recovered, and the medium term may fluctuate to the upside
.
Upper pressure 18000, lower support 17000
.

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.
In the short term, Monday's inventory was slightly destocked by 15,000 tons compared with last week, but the difficulty of aluminum ingot destocking accelerated, and the upward momentum of aluminum prices may weaken.