March 3 aluminum market afternoon comment

Thermal coal fluctuated at a high level yesterday night, and Lun aluminum rose sharply to close Changyang at a new high, closing at $
3,576.
Shanghai aluminum opened sharply higher in the night session, rushed back to close in Zhongyang, closed at 23290.
Shanghai aluminum trading positions rose, and the market sentiment was optimistic
.
Under the conflict between Russia and Ukraine, energy problems and doubtful production capacity of Rusal support aluminum prices, and are expected to continue to rise
in the medium term.
Shanghai aluminum short-term is gaining momentum below 24000 and may continue to fluctuate upward in the medium term
.
Upper pressure 24765, lower support 21000
.

Domestic by the consumption has not yet fully started the impact of spot continues to weaken, aluminum prices internal strong and weak trend continues, short-term aluminum import losses continue to expand, downstream aluminum export profits are good, some aluminum processing enterprises feedback, European orders are relatively full, enterprise orders are more compact, is expected to drive domestic aluminum prices to maintain a high volatility trend
.
Overseas aluminum interference has expanded, and domestic import losses have expanded
.
Consumption: Downstream demand slowly recovered
after the holiday.
In the medium and long term, supply growth is relatively slow, the demand-side market has expectations for marginal relaxation in the real estate sector, the country's future UHV construction scale is unprecedented, the market is expected to be good for aluminum demand, and aluminum prices remain optimistic
.