Aluminum prices open high and go high in the short term or remain strong

In terms of fundamentals, the import of unwrought aluminum and aluminum products in March was 197,000 tons, a year-on-year decrease of 4.
6%, but in the case of poor internal and external ratio and good exports, imports did not decrease significantly beyond market expectations, and a large number of imports were not reflected in inventory pressure, indicating that the demand for recycled alloys was acceptable; Yesterday's real estate data was released, the data is still very poor, but the market response is relatively calm, and the fundamentals of the current poor real estate have been reflected in
expectations.

In terms of inventory, social stocks have deteriorated sharply, with aluminum ingot stocks falling by 26,000 tons on Monday, of which Gongyi decreased by 16,000 tons and Foshan decreased by 9,000 tons; except for East China's flat demand stocks suppressed by the epidemic, other regions had replenishment actions last week; aluminum rod stocks decreased by 10,500 tons to 162,000 tons, mainly Foshan area destocking 09,500 tons, reflecting the demand for centralized replenishment in Foshan area
.

On April 18, 2022, the domestic social stock of electrolytic aluminum was 1.
039 million tons, down 24,000 tons
from last Thursday's inventory.
Among them, except for Wuxi, which is still accumulating, the rest of the regions are in a downward trend, and the inventory in Wuxi increased by 5,000 tons to 518,000 tons
.
The status of shipments is still limited
by poor transportation logistics.

After the aluminum price breaks through the 22000 pressure level, the upper part may need to see the 22300-22500 line
.
Under the background of the continuous escalation of the Russian-Ukrainian war in foreign countries, the domestic epidemic tends to be controlled and the resumption of work and production is resumed, aluminum prices may remain strong
in the short term.