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Overnight, non-ferrous metals remained strong overall, and aluminum prices both inside and outside the market showed a surge and decline
.
Today's aluminum prices showed a volatile downward trend, as of the close of 3 pm, the main 2202 contract of Shanghai aluminum closed down at 21375, down 275, or 1.
27%.
On the macro front, high inflation in the United States, the Fed's expectation of starting a rate hike in March 22 is stronger, and the US index is rising, which may put the overall pressure on the
colored sector.
In addition, the recent epidemic situation at home and abroad is more serious, and it is necessary to be vigilant against the rise in market risk aversion affecting the trend
of aluminum prices.
From a fundamental point of view, overseas, before the arrival of next spring, the market's concerns about energy problems in Europe and the expectation of further production cuts by aluminum plants have always existed, giving strong support
to aluminum prices.
Domestically, the domestic aluminum ingot social warehouse on Monday was 752,000 tons, down 24,000 tons from last Thursday, and the continuous destocking of domestic stocks was another factor
pushing up aluminum prices.
However, domestic fundamentals are weakening marginally, and the future may be a drag
on aluminum prices.
Approaching the Spring Festival, downstream demand is gradually decreasing, and it is expected that there may be an inflection point
in aluminum ingot inventory in mid-to-late January.
In addition, French Finance Minister Le Maire recently said that measures to deal with energy prices will be announced before the weekend, and it is necessary to be vigilant against the impact
of this risk event on aluminum prices.
