Peak season consumption is still expected Shanghai aluminum may still have upside in the future

Today, LME three-month aluminum opened higher and higher, and the LME three-month aluminum Beijing time was reported at 2161.
5 US dollars / ton at 15:00 Beijing time, up 31.
5 US dollars, or 1.
48%,
from the settlement price of the previous trading day.

In terms of the market, today's spot trading price of Yangtze River is 17080-17120 yuan / ton, down 490 yuan; Guangdong South Reserve reported 17050-17110 yuan / ton, down 500 yuan; Hua reported 17080-17120 yuan / ton, down 480 yuan
.
Holders began to sell, traders waited and watched, large households received goods enthusiasm was general, and the overall transaction was average
.

On the macro front, OPEC+ continues to tighten crude oil supply to protect oil prices; Fed Chairman Jerome Powell stated that inflation pressure is not large, insisting on a full economic recovery before considering raising interest rates
.

In terms of fundamentals, this week's domestic social inventory increased by 53,000 tons from the previous week to 1.
161 million tons, and the accumulation of aluminum ingots continued after the holiday, and short-term aluminum ingot stocks are expected to increase first and then fall
.
Despite the outstanding performance of short-term aluminum prices, the price rush coupled with the increase in supply under high profits and low inventories, there is a risk
of correction in aluminum prices.