February 24 Shanghai aluminum brief comment

As of the close of 3 p.
m.
, the main 2104 contract of Shanghai aluminum closed down at 16630, down 80, or 0.
48%.

Industrial products in the domestic futures market pulled back to varying degrees, and Shanghai aluminum maintained range fluctuations
.
Tomorrow's aluminum prices are expected to fluctuate and consolidate
.

In terms of fundamentals, domestic social stocks increased by another 123,000 tons to 1.
057 million at the end of last week, and the low accumulation of stocks during the Spring Festival has eased, and short-term aluminum ingot inventories are expected to increase first and then fall
.
Despite the outstanding performance of short-term aluminum ingots, the increase in medium-term supply under high prices and low inventories is obvious, and there is a risk
of correction in aluminum prices.

Shanghai aluminum appeared a slight pullback during the day, long funds left the market to weaken most of the colored plate, market confidence has declined, in the short term it is difficult for aluminum prices under poor fundamentals to continue to rise, or there is a certain demand for adjustment, but the macro surface still has some support for aluminum prices, Shanghai aluminum main force below can pay attention to 16,000 support, operational recommendations for the time being, it is expected that tomorrow's spot aluminum shock falls
.