Brief review of Shanghai aluminum on March 17

On the macro front, the Federal Reserve announced a 25 basis point interest rate hike in the early hours of this morning, but it was basically in line with market forecasts, commodity fluctuations were limited, and the bearish impact on the aluminum market was almost nothing, which relatively released the nervousness of the bulls, which helped the aluminum market
to a certain extent.

In terms of inventory, the latest social library data shows that domestic inventories continue to dematerialize, the range to around 50,000 tons, of which many places inventory has decreased significantly, and the market for downstream consumption expectations or is being fulfilled, in the short term, inventory dematerialization and supply and demand will continue to drive prices higher, Shanghai aluminum main force will gradually stand at a high of 22,000, the upper pressure level can see 23,000.