Downstream consumption is expected to be good, and Shanghai aluminum maintains a high level of volatility in the short term

Overseas, Federal Reserve Chairman Powell, European Central Bank President Christine Lagarde, Bank of England Governor Bailey and others participated in a panel discussion
on the global economy held by the IMF.
Powell said the Fed is committed to raising interest rates "quickly" to reduce inflation
.
With a 93.
2% probability of a 50 basis point rate hike in May, risk asset prices will be tested
in the short term.

Domestically, transportation congestion has been opened, and the impact of the epidemic on logistics has gradually weakened
.
The progress of domestic electrolytic aluminum production is relatively good, the pace of electrolytic aluminum investment and resumption of production in South China has accelerated significantly, and the domestic supply has rapidly increased
.
On the demand side, the downstream starts of Shandong, Wuxi and other places have recovered, the possibility of market consumption turning good and expected realization has become greater, and the spot market trading has improved
.
It is expected that in early April, domestic aluminum social inventory will remain mainly in storage, and then with the improvement of the epidemic, consumption will speed up and return to the state
of destocking.

The domestic epidemic has led to the resumption of work and production of enterprises that have suspended production, and due to poor transportation, the arrival of goods has reduced the destocking of aluminum ingots, coupled with the continuous destocking of overseas inventories, which has boosted optimism
.
However, domestic consumption is still difficult to return to normal levels, and the strong upward momentum in production has put upward pressure
on prices.
Short-term aluminum prices may maintain a volatile trend
.