The non-ferrous sector remained strong as a whole, and aluminum prices continued to be high

The non-ferrous metals sector remained strong yesterday, and Shanghai copper rose nearly 5%.

Alumina prices remain relatively high, and alumina plants intend to raise prices, it is expected that alumina prices will continue to rise, and electrolytic aluminum profits will continue to be transmitted
to the front end of the industrial chain.

In terms of stocks, data on Monday showed that the domestic social stock of electrolytic aluminum was 712,000 tons
.
It is already mid-July, but the electrolytic aluminum inventory continues to maintain a dematerialization trend, and the overall phenomenon shows that the off-season is not light
.

The spot market remained tight and premiums remained high
.
Funds remain favored by the non-ferrous metal sector, and short-term Shanghai aluminum still needs to maintain more ideas
.
In terms of operation strategy, Shanghai aluminum is recommended to continue to hold
in the early stage.

Recently, the global economic data continued to improve, macro sentiment and abundant liquidity supported the continued strengthening of non-ferrous metals, and the average profit per ton of aluminum has exceeded 2,000 yuan
.
Despite the arrival of the inflection point of aluminum market inventory, the source of imported goods continues to flow in, and the fundamentals show signs of
weakening.
However, driven by the macro atmosphere and funds, the aluminum ingot spot market still maintains a strong position, and Shanghai aluminum is still prone to rise and fall in the short term under the state of low inventory and high premium, and it is recommended to wait and see
for the time being.