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Overnight aluminum oscillations are strong
.
As of today's close at 3 p.
m.
, the main 2105 contract of Shanghai aluminum closed down at 17460, down 80, or 0.
46%.
Judging from yesterday's domestic social inventory data, it fell by only about 10,000 tons compared with last week; It can be seen that the current high price of aluminum prices not only has a certain inhibitory effect on downstream procurement willingness, in addition to the inventory of dematerialization also has a partial negative impact, in the short term, Shanghai aluminum or difficult to stand at the 17,500 mark, but in the past library support under the aluminum price is still difficult to have a big fall, the main force can still pay attention to the narrow range of 1.
72-17,600 range of shock, the operation upstream and downstream can buy a small amount of low, it is expected that tomorrow's spot aluminum or continue to run at a high level, the overall fluctuation space is not large
In terms of fundamentals, the future supply side is expected to remain strong under high profits, but the closure of the import window or the impact on the later import volume can also be seen that the current aluminum price is in a pattern of strong outside and weak inside; In terms of demand, high-priced aluminum still has a certain restrictive effect on the downstream, downstream procurement is still more cautious, which is compared with last year lack of willingness to stock up, at this time investors should pay more attention to the change of social inventory, the current many investors hope to go to the warehouse to verify the strong demand
.
The fundamentals are in a stage where expectations diverge from the present, and the downstream performance has not exceeded expectations, but the downstream is also wrapped up in the market when the peak season comes, and there is a situation
where it has to be purchased at a high price.
Recently, I have communicated with some market participants, and found that the market sentiment is still high, nonferrous aluminum is considered to be a strong variety in supply and demand, and it can still look at the first line in the later stage.
