Shanghai aluminum opens low and goes high, and the price is volatile and consolidated in the short-term range

Today, Lun aluminum fluctuated in a narrow range, and the LME was reported at $2,459 / ton at 15:02 Beijing time for three months, up $8, or 0.
33%,
from the previous session's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 18840-18880 yuan / ton, up 50 yuan; Guangdong South Reserve reported 18860-18920 yuan / ton, up 10 yuan; Hua reported 18880-18920 yuan / ton, up 30 yuan
.
The shipper adjusted the price and actively shipped the goods, the receiver bought at a low price, the market trading situation was better, and the downstream consumption was still not good
.

On the macro front, the first batch of reserves dumped by the National Reserve Bureau, and the US non-farm payrolls data was better than expected, but Biden proposed a new infrastructure plan, and market sentiment was mixed
.
From a fundamental point of view, the "ceiling" limit of electrolytic aluminum production capacity and the pressure of the dual carbon policy, but the power curtailment in Yunnan has ended one after another, and the pressure on the aluminum supply side has been reduced; Downstream demand has entered the off-season, and short-term demand disturbances exist, but new energy demand has grown rapidly and has improved in the long term
.

On the inventory side, LME aluminum is obviously destocked, Shanghai aluminum inventory is relatively stable, short-term fundamentals are weak, and in the long run, aluminum fundamentals are
well supported.
From a technical point of view, Shanghai aluminum prices are volatile and consolidated in the short-term range, and it is recommended to wait and see
in the short term.
Focus: The global epidemic has been repeated, the Fed has raised interest rates, and the second batch of reserves by the National Reserve has made progress
.