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Overnight, Shanghai aluminum weakened and shocked
.
Recently, the fundamental changes in the aluminum market are limited, the spot discount narrowed to around 50 yuan, the inventory of aluminum ingots and aluminum rods fell slightly by 20,000 tons this week, and the year-end inventory still has room to decline but it is difficult to return to the low
.
Market sentiment is constantly disturbed by macro factors and export tax rebate rumors, and the short-term trend of Shanghai aluminum is not strong, and it is still treated as a shock, focusing on the support of the previous low
.
In terms of news, in order to achieve pollution reduction and carbon source control of fixed pollution sources, Shandong clearly pointed out the substitution
of electrolytic aluminum carbon emission reduction.
Continue to pay attention to the impact of
electricity prices on the cost side.
With the continuous advancement of coal supply, the impact of power cuts has decreased compared with before, but the overall cost has remained at a five-year high
.
With the entry of the heating season and the Winter Olympics, the overall production capacity release is expected to remain tight, and its implementation has become the focus of
testing.
On the demand side, the inventory of downstream aluminum profiles and aluminum rods in November fell sharply, mainly due to the delayed release of early demand, relatively active market trading, and inventory began to decrease
near the end of the month.
In terms of liquidity, against the backdrop of higher overseas inflation data in October, the market has tightened liquidity expectations, but the follow-up implementation still needs to observe the persistence of inflation and the trend
of the new crown epidemic.
At present, long and short factors are intertwined, and aluminum prices are strong
in the context of high costs and limited production in the heating season.
