The supply and demand structure gradually improves the trend of aluminum or the shock is strong

In terms of the market, the strike incident of Alcoa Western Australia alumina plant continued to ferment, the US sanctions against Russia intensified the market's concerns about the impact of RUSAL, and the frequent interference of macro factors led to difficulties in the upward movement of aluminum prices; The rise in the cost of the domestic aluminum market still supports the price of aluminum, and in the later period, with the landing of the policy, the market supply and demand structure is gradually improved, and the trend of aluminum prices or shocks is strong, and it is expected that today's spot aluminum prices will rise and fall limited
.

On the supply side, the operating capacity increased slightly to 37.
116 million tons; on the cost side, alumina was strong, coal prices stabilized, and the industry recovered to a slight profit
.
In terms of stocks, the LME bank fell slightly to 1.
154 million tons, which increased slightly to 90.
59 tons in the previous period, and the social bank fell to 1.
693 million tons, weakening the domestic destocking efforts
.

Aluminum prices rose slightly as a strike at an Australian smelter last week disrupted global alumina supplies
.
In addition, factors such as Brazil's Hydro and Rusal will continue to cause overseas alumina tension and stimulate domestic exports
.
Recently, local policies in China have been frequent, and policies are expected to heat up
further.
At the same time, the domestic destocking continues, the margin of supply and demand improves, and the new production capacity is temporarily difficult to exceed
expectations due to capital and profit problems.
It is expected that aluminum prices will maintain a range-bound trend
.
Operationally, it is recommended to continue to hold long orders in the early stage, and actively buy
around Wansi.