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Aluminum market afternoon comment: global primary aluminum production increase strengthens oversupply, overnight Lun aluminum closed down $48, the current total electrolytic aluminum inventory is still low, the end market consumption performance is better, it is expected that today's aluminum slightly rise
.
Overnight, Lun aluminum fell sharply, closing in the shade to a new recent low of $1981.
5
.
After the daily plunge in the Shanghai aluminum market, the night session rebounded sharply, opening high and closing high Zhongyang closed at 15550
.
Affected by the cold wave, the internal market trend is stronger than the outer market
.
Shanghai aluminum trading positions have declined, reducing positions and rebounding, mainly due to the departure of funds before the holiday, the trend is still not strong, it is not suitable to bottom
.
Upper pressure 16100, lower support 15000
.
Last week, affected by the news of the new crown virus mutation in the UK, the market panic soared, the capital market was frustrated, and aluminum prices fell
sharply.
Although downstream demand is still stable, but due to the high profits of aluminum plants, this year's electrolytic aluminum operating capacity increased by 3.
5 million tons compared with 2019, coupled with the aluminum ingot import window continues to open, with the advancement of time, according to the speculation of the rhythm of supply and demand, it is judged that the short-term aluminum ingot inventory inflection point will appear, and it is recommended to turn to short-term treatment as scheduled on Monday
.
Strategically, for industrial customers, sell insurance positions are temporarily held, and for speculative customers, it is recommended to avoid long orders
.
