May 24 aluminum market afternoon review

Overnight, Lun aluminum rushed back down and turned to close in a small negative, opening slightly higher at $
2956 today.
Shanghai aluminum opened high and low overnight, turned lower and closed at 20660
.
Shanghai aluminum trading positions fell slightly, and market sentiment was biased towards
neutrality.
The Russia-Ukraine conflict is still fierce and market uncertainty is high
.
The epidemic situation in Shanghai tends to stabilize, and the consumption side improves
.
Shanghai aluminum aluminum below the reflects a certain support, may continue to fluctuate low, waiting for further news
on the situation in Russia and Ukraine.
Upper pressure 22000, lower support 19000
.

At the end of last week, an accident in an aluminum plant in Yunnan caused short-term market supply concerns, the pace of new domestic production is clear and optimistic and there is a margin, the accident production reduction is not universal, the current impact only exists on the emotional side, with the gradual improvement of the domestic epidemic, Guangdong and Jiangsu, Zhejiang and Shanghai and other places of lockdown pressure gradually lifted, downstream start recovery is also on track, short-term epidemic recovery to the aluminum market support is insufficient, automotive sector demand or improved, the real estate sector is still relatively weak, supply and demand mismatch pattern continues
。 The recent continuous destocking rhythm of aluminum ingots has given bulls a certain return to confidence, and aluminum prices may be in the logic of high volatility, and it is still necessary to continue to pay attention to the progress of
the epidemic.