Shanghai aluminum shock rebound, the macro atmosphere is warm, providing support

Today's London aluminum is strongly volatile, LME three-month aluminum Beijing time at 15:00 at 2009.
5 US dollars / ton, up 1.
5 US dollars, or 0.
07%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 14920-14960 yuan / ton, up 210 yuan; Guangdong South Reserve reported 14920-14980 yuan / ton, up 230 yuan; Hua reported 15030-15050 yuan / ton, up 220 yuan
.
Cargo holders are slightly reluctant to sell, downstream bargain hunting, large households are generally enthusiastic about receiving goods, and trading performance has improved
.

Industry highlights, diversified mining company Rio Tinto has reached a new power agreement with ASX-listed Meridian Energy to allow New Zealand Aluminium Smelter (NZAS) to continue operating the
Tiwai Point aluminium smelter until the end of December 2024.

Aluminum ingot social stocks continued to accumulate, and consumption off-season characteristics appeared, but the accumulated volume this week only fell by 20,000 tons
month-on-month.
There is a slight premium in the spot of aluminum ingots, but the monthly difference structure of Shanghai aluminum is reversed to contango, which is conducive to hedging entry
.
The closure of the primary aluminum import window will partially ease the supply pressure in the first quarter, but due to the epidemic, the downstream orders are not good, and there is a possibility of early holiday, pay attention to the change
in accumulation volume.
Shanghai aluminum continues to look for support, short orders temporarily held
.