Shanghai aluminum afternoon review on April 1

On the macro front, US President Joe Biden announced the largest US Strategic Petroleum Reserve release plan ever, which will release 1 million barrels per day of oil reserves over a six-month period starting in May, while calling on oil companies to increase production to increase supply; Russian President Vladimir Putin asked foreign buyers to pay for Russian gas in rubles from Friday or cut off gas supplies, but Germany refused Russia's request to settle gas in rubles and insisted on continuing to pay
in accordance with the contract.
The PCE price index in the United States increased by 6.
4% year-on-year in February, the largest increase since 1982
.

The epidemic has impacted domestic aluminum supply and demand, market demand is weak, the discount is large, the arrival of goods is gradually recovering, destocking is slowing down, and price pressure is greater; Sanctions against Russia affect global energy supply, prices are still high and volatile, LME aluminum inventory is low, overseas gap is large, inflation and shortage support overseas aluminum prices strongly, but the Russia-Ukraine crisis still disturbs market sentiment, the market is unstable, it is recommended to wait and see in the short term, over-fall can be appropriately long
.