There is still room above Shanghai aluminum to pay attention to whether there is a breakthrough in the later stage

On the macro front, the dollar index continued to strengthen slightly in the previous session, rising above 98.
7, while hawkish comments from some Fed officials and uncertainty over the Russia-Ukraine conflict continued to support
the greenback.

Overseas, the Australian government immediately banned the export of alumina and aluminum ore, including bauxite, to Russia; Coupled with the closure of 1.
7 million tons of alumina plant in Ukraine in the early stage of RUSAL (after all Ukrainian alumina was shipped to Russia for its own use), the gap in Russian alumina supply was further amplified, and the risk of global electrolytic aluminum supply contraction intensified
.

Domestically, China Aluminum Liancheng Branch held a grand opening ceremony of the 500kA series resumption project, with the continuous advancement of resumption of production, the current tight supply is expected
to ease in the future.

In terms of stocks, as of March 24, China's electrolytic aluminum social inventory was 1.
066 million tons, down 16,000 tons
from this week (March 21).

In general, from the current market situation, March affected by multiple factors at home and abroad, the frequency of aluminum price fluctuations will increase, the range of fluctuations will widen, but changes in the overseas situation and high energy prices have always formed a strong support for LME aluminum prices, and then transmitted to domestic aluminum prices, superimposed on the domestic demand season gradually coming, internal and external prices to boost exports increase expectations, so it is expected that aluminum prices in March will generally remain high
.