Aluminum inventories continue to destock, continuing to support the trend of aluminum prices

This week, the center of gravity of Lun aluminum moved up, breaking through the 1800 mark during the session, from the perspective of the plate, the pressure level of the Lun aluminum 1800 mark still exists, lack of favorable boost, the actual rise is expected to be limited, short-term is expected to repeatedly test this threshold oscillation, next week the probability of shock falling is greater
.

In terms of stocks: this week's domestic social electrolytic aluminum stocks, Shanghai area 119,000 tons, Wuxi area 193,000 tons, Hangzhou area 54,000 tons, Gongyi area 29,000 tons, South China Sea area 131,000 tons, Tianjin 54,000 tons, Linyi 05,000 tons, Chongqing 19,000 tons, consumption area aluminum ingot inventory total 604,000 tons, down 44,000 tons
from last week.

Spot: aluminum prices rose this week, as of Friday, East China spot aluminum prices were reported at 14430-14470 yuan / ton, up 450 yuan / ton from last week, a weekly increase of 3.
15%; The spot changed from flat water to 160 liters; Short-term gains or slowdown, next week beware of rushing back down, East China spot aluminum fluctuation range focus on 14200-14500 yuan / ton
.
Wait and see
.

Electrolytic aluminum market:

East China: snowfall in the north, market arrivals decreased, taking advantage of this market speculation obvious, this week aluminum prices rose rapidly, as of Friday, East China spot aluminum price reported 14430-14470 yuan / ton, up 450 yuan / ton from last week, a weekly increase of 3.
15%; The spot changed from flat water to 160 liters; Holders firmed the selling price, but the middlemen and downstream were afraid of heights, only the inquiry was the mainstay, and the overall transaction this week was not as good as last week
.

South China: South China spot aluminum also rose sharply this week, as of Friday, Foshan aluminum ingot with ticket price 14690-14790 yuan / ton, up 450 yuan / ton from last week, a weekly increase of 3.
15%; The circulation of market sources has increased, and traders' shipments have improved, but the high premium has suppressed the enthusiasm for receiving goods, and the market activity has weakened
.

The rainy and snowy weather in the north led to a decrease in market arrivals, and investors were enthusiastic about longing, and Shanghai aluminum rose
sharply this week.
The main 2002 contract climbed to an intraday high of 14245, and after three days of rapid rise, the growth rate of Shanghai aluminum slowed
down significantly.
From the trend point of view, domestic aluminum inventories continue to go to storage, continue to support the trend of aluminum prices, but the price of alumina is declining, the cost continues to decline, or inhibit the trend of aluminum prices, short-term fundamentals lack of substantial positive boost, the rise in aluminum prices may be difficult to continue, beware of giving back the increase, the operation is temporarily wait-and-see
.