Downstream consumption performance is insufficient to contain the upside of aluminum prices

Today's Shanghai aluminum main month 2210 contract, opening 18290 yuan / ton, the highest intraday 18625 yuan / ton, the lowest 18205 yuan / ton, settlement 18305 yuan / ton, the end of the close to 18605 yuan / ton, up 300 yuan, up 1.
64%.

Today's London aluminum volatility rose, LME three-month Beijing time at 15:01 at 2277 US dollars / ton, up 36 US dollars, or 1.
61%,
from the previous trading day's settlement price.

Today's Shanghai aluminum open high, intraday trend is high, the European energy crisis under the major aluminum companies facing a survival crisis, aluminum supply concerns intensified, superimposed on the domestic Yunnan region will face power restrictions and production restrictions, further support aluminum prices, but demand still has not improved, continue to contain the upward driving force of aluminum prices, short-term Shanghai aluminum shock operation
.

In terms of the market, today's spot trading price of Yangtze River is 18430-18470 yuan / ton, up 60 yuan, discount 60-discount 20; Guangdong spot 18350-18410 yuan / ton, up 50 yuan, discount 140-discount 80; Hua reported 18490-18530 yuan / ton, up 60 yuan
.
There are a large number of replenishment lively scenes in the spot market, holders are eager to sell, receivers are mostly waiting and waiting to purchase at low prices, some are bullish to supplement low-priced sources, and the overall trading performance is relatively average
.

The recent intensification of the European energy crisis has made costs high, forcing German aluminum companies to choose to reduce production capacity by 50%, and in the past two years, European closed aluminum production capacity has reached about 1 million tons, but the large increase in aluminum stocks has suspended supply concerns, from 277,050 tons on Monday to 309,500 tons, but still far below the recent high; The lack of domestic downstream consumption performance continues to contain the upside of aluminum prices, while the high ratio of Shanghai may restrict domestic aluminum exports, and concerns suppress the trend of Shanghai aluminum, and aluminum is expected to rise
slightly.