Aluminum prices are strong outside and weak inside Continue to pay attention to geopolitical impact

Rio Tinto is seeking to stop shipping bauxite to a Russian plant
.
Under the Russian-Ukrainian conflict, Rusal's exports and transportation may be blocked, coupled with European energy prices continue to rise, European electrolytic aluminum production reduction concerns continue to heat up
.

In terms of domestic fundamentals, Yunnan, Inner Mongolia and other places have begun to resume production, and the process of resumption of production is uneven
.
The aluminum market shows a state of external strength and internal weakness, and the import window continues to close
.
In terms of consumption, downstream consumption just needs a seasonal slow recovery, but considering the current high aluminum prices or suppressing demand, it is necessary to pay attention to the impact
of the epidemic and environmental protection control in the north on the downstream resumption of work.

In terms of inventory, social library data shows that inventory has dematerialized, and it is necessary to pay attention to the follow-up destocking efforts
.
On March 10, domestic aluminum ingot stocks were 1.
142 million tons, 02,000 tons
more than Monday.
LME aluminum inventories fell by 8,400 tonnes from the previous session to 763,000 tonnes on March 10
.

In terms of price, the threat of the energy crisis to overseas electrolytic aluminum production capacity may continue, and it is necessary to continue to pay attention to the progress of domestic electrolytic aluminum production and the recovery of downstream demand.