May 30 aluminum market afternoon review

After opening higher on Friday, it fluctuated slightly and opened slightly higher at $2,880 today
.
After a sharp rise on Friday, Shanghai aluminum opened low in overnight trading and closed at 20710
.
Shanghai aluminum trading positions are basically stable, and market sentiment is biased towards
neutrality.
The conflict between Russia and Ukraine is still fierce, the EU's sanctions against Russia have been unable to advance, and the market uncertainty is high
.
The domestic epidemic situation tends to stabilize, and the consumption side improves
.
Shanghai aluminum and aluminum have reflected some support below, which may continue to fluctuate or rebound moderately, waiting for further news
on the situation in Russia and Ukraine.
Upper pressure 22000, lower support 19000
.

The contradiction of aluminum fundamentals is not prominent, smelting costs are still at a high level, and the cost decline is limited, superimposed processing enterprises resume work and production, it is expected that the short-term can still go to the warehouse, not easy to be overly bearish, macro level, the recent national stable economic conference was held, the state intensively introduced a series of policies to stimulate the economy, the follow-up need to observe the recovery of terminal consumption, waiting for demand to return
.