Shanghai aluminum volatility is strong, off-season demand suppresses upside

Today's London aluminum high in a narrow range, LME three-month Beijing time at 15:01 at 2388 US dollars / ton, up 17 US dollars, or 0.
72%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 18750-18790 yuan / ton, up 70 yuan, and the premium is 140-180; Guangdong spot 18720-18780 yuan / ton, up 50 yuan, premium 110-liter 170; Hua reported 18810-18850 yuan / ton, up 70 yuan
.
The shortage of market supply supports shippers to raise prices, buyers' replenishment demand is generally not high, and the transaction is also light
.

Domestic fundamentals are weak, demand is still weakening, and the number of infected people is rising under the relaxation of epidemic prevention and control, which has a relatively large impact on terminal consumption, but the continuous decline in global aluminum inventories provides support for aluminum prices, and the arrival of aluminum ingots in transit is insufficient, coupled with the recent downward movement in aluminum prices, driving downstream procurement to warehouse will be maintained, and aluminum is expected to rise
slightly.

Today's Shanghai aluminum shock is strong, the domestic policy meeting did not exceed expectations, and off-season demand suppressed upside, but low inventory under the social treasury continued to support short-term prices, Shanghai aluminum closed slightly higher
during the day.