Brief review of Shanghai aluminum on March 22

The concept of "carbon neutrality" is still hot, and the expected production reduction that may be triggered continues to be beneficial to the supply side of the electrolytic aluminum industry, on the demand side, although the government work report pointed out that it is necessary to steadily increase the daily mass consumption of ordinary people such as automobiles and home appliances, but the primary processing end due to the rapid rise in the early stage of aluminum prices, the wait-and-see mood is large, and the recovery is relatively slow, so the overall aluminum price shows a high volatility
.
The latest inventory data also shows that aluminum ingots are still in the accumulation channel, and the destocking inflection point is expected to appear
in mid-to-late March.

According to the latest inventory data, At present, the domestic social inventory only increased by 16,000 tons compared with last week, and the accumulation rate gradually narrowed; at the same time, with the peak season, the situation of strong supply and demand may become more and more obvious, the inventory inflection point or coming, basically facing the aluminum price to form further support, short-term Shanghai aluminum continues to run at a high level, but the continued high price or trigger the market fear of heights, aluminum prices still have the possibility of appropriate adjustment; on the whole, Shanghai aluminum medium and long-term bullish thinking remains unchanged, the main force can temporarily pay attention to the 18,000 pressure level, the operation of bargain buying, it is expected that tomorrow's spot aluminum shock is stable
。