March 20 aluminum market morning review

Thursday's collapse of U.
S.
stocks and the collapse of crude oil undoubtedly dealt a heavy blow to the fragile financial market, Shanghai metal mostly fell to the limit, Shanghai aluminum as well, as of the close of three o'clock, the main 2005 contract closed down 5.
41% to 11805, down 675 from the previous trading day; Intraday as expected fell below the 12,000 mark, from the current plate point of view, macro continues to disturb, the market pessimistic atmosphere has not eased, short-term aluminum price weak pattern has not changed, Shanghai aluminum below the focus on the 11,000 mark, the operation is still wait-and-see; it is expected that tomorrow's spot aluminum decline is difficult to change
.

Recently, the spread of the overseas new crown epidemic, market sentiment panic appeared to sell all kinds of risk assets and then triggered some market liquidity crisis, non-ferrous metals collectively showed a sharp plunge, London aluminum hit a new low of 1579.
5 US dollars / ton, overnight in Europe and the United States stimulus policy driven by the market, market sentiment has improved, the market rebound
.

As far as supply and demand are concerned, although the resumption of work in China continues to advance, the oversupply situation has not changed, and inventories continue to accumulate
.
The overseas epidemic is still in the stage of spreading and spreading, and many countries have entered the outbreak period, and the impact on market confidence and the subsequent global economy cannot be ignored
.
Market sentiment is unlikely to improve until there is a significant inflection point in the overseas epidemic, and liquidity risks from the continued plunge in risky assets will further exacerbate market panic
.