The short-term rebound momentum of Shanghai aluminum is strong, and the sustainability needs to be verified

Today, Lun aluminum first suppressed and then tilted, the overall weak operation, LME three-month Beijing time at 15:01 at 2796.
50 US dollars / ton, down 16.
50 US dollars, or 0.
59%
from the previous trading day's settlement price.

Today's Shanghai aluminum range is weak and volatile, international oil prices fell slightly, overseas natural gas problems have eased slightly, energy prices have fallen, but the actual reduction of overseas aluminum plants remains to be seen, superimposed on the domestic Spring Festival, real estate construction sites gradually stopped work, aluminum demand gradually weakened, aluminum prices fell running
.

In terms of the market, today's spot trading price of Yangtze River is 20090-20130 yuan / ton, down 250 yuan; Guangdong South Reserve reported 20100-20160 yuan / ton, down 220 yuan; China reported 20130-20170 yuan / ton, down 250 yuan
.
The enthusiasm for downstream procurement is general, the terminal consumer demand is reduced, the trading activity performance is average, and the overall transaction volume is insufficient
.

Near-term supply is expected to tighten, social inventory has shown a rapid destocking trend, and the superimposed cost effectiveness has gradually increased, helping aluminum prices gradually stabilize
.
Recently European electricity prices are still high, superimposed costs and inventories are more profitable, electrolytic aluminum upward support is strong, short-term aluminum price rebound momentum is still strong, but the sustainability of the upward trend needs to be verified
.