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Yesterday, the internal and external aluminum markets were consolidated at a high level, and Shanghai aluminum recorded a maximum of 17870 points, breaking the previous high
again.
Today's dollar index continued to strengthen, under the pressure of nonferrous collective aluminum prices showed a trend of rushing back down, as of the close of 3 p.
m.
, the main 2104 contract of Shanghai aluminum closed down at 17130, down 285, or 1.
64%.
In terms of inventory, the accumulation volume after the holiday is slightly above the median of the calendar year, and the overall accumulation is relatively slow
.
In addition, last week, the start of leading aluminum processing enterprises increased sharply by 19.
0 percentage points to 60.
1%, and the "New Year in place" policy made the overall resumption of work of downstream processing enterprises relatively fast, and the short-term consumption margin was strengthened
.
On the supply side, the release of new domestic production capacity in the first quarter was slow, and Inner Mongolia was recently interviewed again due to the failure to complete the "dual control" of energy consumption, Mengdong electrolytic aluminum enterprises reduced production accordingly, and the location of new production capacity in Inner Mongolia is in Mengdong, which does not rule out the possibility
that new production capacity will be delayed or suspended.
In the early stage, under the continuous stimulation of supply side constraints and optimistic expectations of consumption, aluminum prices rose sharply, but the risk of aluminum prices falling after repeatedly breaking new highs also gradually increased, in addition, returning to fundamentals, the data shows that electrolytic aluminum inventories are still accumulating during the week, consumption does not meet expectations Shanghai aluminum or difficult to maintain a high level of operation, the main force can temporarily pay attention to 16,500 support, the operation can temporarily wait and see, it is expected that tomorrow's spot aluminum will fall
.
