Aluminum prices slightly repaired the previous decline for the time being

LME three-month aluminum opened at $3,107/mt and tried to rebound
after dipping as low as $3,073/mt.
As of 16:30 Beijing time, the price of London aluminum in March was temporarily 3124 US dollars / ton, up 8 US dollars within the day, an increase of 0.
26%.

Overseas, Russia announced that it would stop supplying natural gas to Poland, which led to a sharp rise in natural gas prices in Europe and continued to pay attention to the shutdown of
overseas aluminum plants.
In terms of domestic supply, the starting capacity of electrolytic aluminum supply continued to rise, and the increase in production capacity slowed down slightly, but the release of output continued to increase, and the supply pressure continued
.
Recently, under the policy intervention, transportation in some areas has improved slightly, and enterprises have begun to resume work and production, but consumption has not returned to normal levels
.
According to customs data in March, the export data of primary aluminum and aluminum products increased year-on-year, and it is necessary to pay attention to the interference of the epidemic on port unloading and shipping
.

In terms of inventory, domestic social library data showed a slight destocking of inventory, and overseas inventories fell to about 580,000 tons, at a historical low
.
As of April 28, domestic aluminum ingot stocks were 987,000 tons, down 34,000 tons
from the previous week.
As of April 28, LME aluminum stocks fell by 02,900 tons from the previous session to 571,600 tons
.

In terms of price, the current aluminum market has a phased mismatch between supply and demand affected by the epidemic, but the decline in aluminum prices before the holiday may stimulate the downstream replenishment, and it is recommended to treat it with a wait-and-see approach in the short term
.