Shanghai aluminum high opening oscillation limited the range of rise

Today, Lun aluminum fluctuated downward, LME three-month Beijing time at 15:01 at 2694 US dollars / ton, down 39 US dollars, or 1.
43%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 19570-19610 yuan / ton, up 190 yuan; Guangdong South Reserve reported 19640-19700 yuan / ton, up 190 yuan; Hua reported 19610-19650 yuan / ton, up 200 yuan
.
The cargo holder adjusted the price and shipped the goods, the receiver undermined the price and undermined, the transaction was cold, and the overall transaction was not good
.

In terms of fundamentals, affected by the steady increase in downstream demand, the social treasury has continued to degrade
recently.
According to the survey, some profile companies in the north have shown signs of reducing production due to cold winter, but due to the temporary unlimited power constraints in the north, the downstream increase in procurement after the stabilization of aluminum prices to hedge the reduced consumption due to the reduction in production, while the southern region has also increased procurement, so the continuous dematerialization
can be seen from the social treasury.
However, the recent increase in aluminum prices is large, the spot discount is widening, aluminum rod and aluminum rod processing fees are down, downstream follow-up procurement willingness or reduced, it is expected that the second half of the month will accumulate the social library, aluminum prices will be weak.

It is recommended to pay attention to factors such as the release of hidden stocks in the north, aluminum export tax rebates, and environmental protection policies for the Winter Olympics
.