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Overnight Shanghai aluminum volatility was strong, the main force of AL2202 closed at 21700 yuan / ton at night, up 0.
98%.
Today's daily metal fell collectively at the beginning of the day, but generally rebounded in the afternoon, and the internal session generally closed higher, and the main force of Shanghai aluminum fell slightly by 0.
28%.
In terms of spot, as the domestic electrolytic aluminum inventory increased by 02,000 tons compared with last week, the accumulation of aluminum ingots is expected to be fulfilled, Shanghai aluminum continued the long exit process in early trading, Shanghai aluminum weighted position reduction exceeded 17,000 lots, the center of gravity of the transaction aluminum price moved down to around 21300-21400 yuan / ton, East China spot trading premium continued, Gongyi and Foshan market inventory increment concentration, East China destocking continued to support the premium around
30 yuan / ton.
The spot discount in the Central Plains (Gongyi) area is still concentrated, and a small number of holders offer prices as low as 220 yuan / ton to East China, and the downstream entry is still weak
.
From a fundamental point of view, there is a certain trend of accelerating production in various parts of China, the problem of energy shortage in Europe is not reduced but increasing, the scale of production reduction of European smelters continues to expand, and the differentiation of domestic and foreign supply has formed a strong support
for exports.
In terms of inventory, the inflection point of the aluminum ingot society has just appeared, with a slight weekly accumulation of 02,000 tons to 726,000 tons, Wuxi still has a decrease, and the South China Sea, Gongyi and Hangzhou regions have contributed increments
.
As of January 20, the domestic aluminum ingot inventory was 724,000 tons, and the weekly accumulation was 02,000 tons
.
On January 20, LME aluminium stocks moved -5,100 tonnes from the previous session to 873,650 tonnes
.
In the early stage, downstream enterprises accelerated the stocking of basically in place, approaching the Spring Festival many processors will take a holiday in advance, demand is facing a large decline space, from the fundamental point of view, the recent trend of aluminum prices turned to weak operation
.
However, the Fed frequently releases signals such as doubling debt reduction and accelerating interest rate hikes to add unstable factors to market liquidity, and is wary of the sharp exit of bulls, suggesting that investors stay cautious in the short term
.
Continue to pay attention to the impact of the global epidemic, the energy progress in Europe and the new round of dual control of energy consumption before the Winter Olympics on production and processing
.
