December 29 Shanghai aluminum brief comment

Yesterday, the second day of the LME Christmas holiday, the internal aluminum price fluctuated slightly upward, the spot discount narrowed, the downstream receiving sentiment was acceptable, and there was still support
below the short-term aluminum price.

Near the end of the year, domestic inventories maintained dematerialization to support aluminum prices, but the destocking range has slowed down in recent days, on the one hand, downstream consumption is slightly sluggish, and on the other hand, the arrival volume in various places at the end of the year has also decreased, and the frequent outbreak of the epidemic has interfered with the supply and transportation of raw materials; Looking at the subsequent supply and demand situation, the weak supply under the dual control of energy consumption is still expected, short-term aluminum prices will continue to operate at a high level of shock, and the Shanghai aluminum night market may have the opportunity to break through the 20,000 mark, but it is difficult to stand firm, and there is still a possibility of falling; Operationally
, it is recommended that downstream replenish as small amounts as needed.