April 30 Shanghai aluminum afternoon review

Shanghai aluminum volatility higher, intraday touched the 10,000 nine mark, spot market quotations soared to a new high of 18730 yuan / ton, downstream transactions dismal
.
This year, the level of aluminum ingot social inventory is at a historically low level, and the speed of destocking in the early stage is also relatively slow, which lowers the market's expectations
for peak season performance.
However, in the past two weeks, the speed of destocking aluminum ingots has accelerated, and the acceleration in demand has also driven the overall plate to move above
18,000.

The Fed's April interest rate meeting showed that it would keep the monthly bond purchases unchanged, and the dollar index fell to 90.
5, which was significantly positive
for non-ferrous metal prices.
Mengdong and Mengxi in Inner Mongolia have successively issued policies to limit electrolytic aluminum production capacity, and there are rumors that Xinjiang electrolytic aluminum production capacity may be affected
.
Under the goal of carbon neutrality, all localities have the intention to restrict high-energy-consuming enterprises, and the growth of electrolytic aluminum supply will be limited
.
Electrolytic aluminum social stocks continue to decline, the latest data show that the inventory has fallen to 1.
13 million tons, and it is expected that the follow-up will still be destocked
.
From the perspective of the operating rate of processing enterprises, the operating rate continued to rise, orders improved significantly compared with the previous period, and the consumption of electrolytic aluminum in the second quarter remained unchanged
.
Overall, aluminum prices are prone to rise and fall
under the logic of mismatch between supply and demand.