Aluminum prices continue to be strong outside and weak inside, and the trend of Shanghai aluminum fluctuates at a high level

Recently, Russia suddenly launched a war against Ukraine, and the price of aluminum in the internal and external disks soared, and the 3-month Lun aluminum refreshed a record high, and the rise of Shanghai aluminum was slightly inferior to Lun aluminum
.
In terms of news, according to CRU reports, if sanctions include the suspension of the use of the SWIFT payment system for Russia, then the supply of aluminum from Russian exporters using the system will be seriously affected, especially in Europe, which will lead to the actual value of aluminum may exceed $5,000 / ton, and the high price will greatly suppress demand to find a balance
.
On the other hand, what needs to be paid close attention to is whether China can import electrolytic aluminum from Russia, and the pattern of aluminum prices will expand
relative to external strength and internal weakness.

European premiums have started rising
again this week.
Fearing a repeat of Rusal sanctions in 2018, the premium for the US Midwest P1020 rose to 36.
75-37.
25 cents per pound, a record high
.

Domestically, the overall trading atmosphere in East China has warmed up, and yesterday's spot price in Shanghai was discounted by 80 yuan / ton to around
40 yuan / ton.
Holders in South China are bullish on the future market, the circulation of goods has decreased, and processing enterprises in Henan are still not highly motivated to purchase
.
From the perspective of the aluminum rod market, the price of aluminum rose, and the quotation of processing fees began to rise
.

On Thursday, the electrolytic aluminum society accumulated 1.
099 million tons, and the inventory of aluminum rods was reduced by 4,000 tons to 260,600 tons
.
Demand is slowly picking up, but high aluminum prices are still holding back inventory decomposition
.

In the short term, the supply contraction disruption support remains unchanged, but consumption has not yet seen a significant improvement
.
Recently, aluminum prices continue to be strong outside and weak inside, and the trend of Shanghai aluminum is mainly volatile at a high level, paying close attention to the trend of the social treasury after the resumption of work downstream, waiting for the cooperation
of spot.