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Aluminum market afternoon comment: the policy continues to increase, Shanghai aluminum is easy to rise and difficult to fall, closing up 210 yuan in the evening; Guangxi power rationing and production restrictions upgraded, production capacity resumption is far away, superimposed on the reduction of arrivals, the supply gap is still there, today aluminum or rise
.
Today, Lun Aluminum reached a new high of $
2,703.
After soaring yesterday, Shanghai aluminum opened high and low in overnight trading and fell slightly, closing at 21350
.
Shanghai aluminum trading rose and positions fell, and market sentiment was biased towards wait-and-see
.
Global aluminum demand is better, aluminum price trend is significantly stronger than copper price, Shanghai aluminum short-term rise too fast there is pullback pressure, the medium line is still likely to continue to shock
upward.
Upper pressure 22000, lower support 19000
.
At present, the social inventory of electrolytic aluminum has been at a low level, and when the late consumption season comes, destocking is expected to accelerate, and the inventory is expected to fall to a very low position by the end of the year, forming a trend support
for aluminum prices.
Overall, under the background of the intensification of "power rationing" and the tightening of "dual control", the production reduction of electrolytic aluminum in the third quarter is expected to be further expanded, and the landing time of new projects will be further delayed, and with the gradual recovery of consumption, the price of electrolytic aluminum is expected to move further up
.
