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Aluminum prices were weak and volatile yesterday, and the night trading recovered slightly
.
Yesterday's Shanghai aluminum main 2205 contract opened at 22675 yuan / ton in the morning, the afternoon continued to rise, touching 22940 yuan / ton, the afternoon around 22900 yuan / ton of the first line, the final close at 22935 yuan / ton, closed a positive column, down 80 yuan / ton from the previous trading day, down 0.
35%.
Overseas, the Russian-Ukrainian negotiations have made positive progress, and the Russian side agreed to a phased partial withdrawal of troops and considered arranging high-level talks
between the two countries.
Russia reiterated that the ruble is used as the settlement currency for natural gas transactions, the current European energy prices are at a high level, and concerns about electrolytic aluminum production reduction remain.
Domestically, the operating capacity of electrolytic aluminum has increased slightly, and Yun Aluminum recently announced that 700,000 tons of hydropower aluminum production capacity has been fully completed, and there will be a successive release of production
.
In terms of consumption, downstream consumption just needs seasonal slow recovery, aluminum profiles and aluminum plate, strip foil and other sectors operating rate rebounded, but the current outbreak of the epidemic in various places may suppress
demand.
In terms of inventory, social treasury data shows that inventory has accumulated slightly, mainly due to poor transportation caused by the epidemic in many places
.
On March 28, domestic aluminum ingot stocks were 1.
052 million tons, 13,000 tons
more than last Thursday.
LME aluminium inventories fell by 8,750 tonnes from the previous session to 654,000 tonnes on March 30
.
In terms of price, it is necessary to continue to pay attention to the progress of domestic electrolytic aluminum production and the recovery of downstream demand, the recent development of the epidemic has caused certain interference to transportation and procurement, but the low level of inventory at home and abroad has supported the price, it is recommended to treat it unilaterally in the short term, and pay attention to the impact
of news on prices.
