Brief review of Shanghai aluminum on March 27

Yesterday's market continued to maintain a narrow range of operation, the month of operation around 17210 yuan / ton, East China spot trading continued to stabilize, downstream entry sentiment is higher, procurement positive situation, spot to the month flat water mainly, Shanghai and Xi actual transaction price concentrated 17200-17220 yuan / ton
.
In the short term, after the absolute price of the downstream, the sentiment of direct entry has increased significantly, which also shows that the recognition of the current price by enterprises has increased
.

In terms of stocks, LME aluminium ingot stocks increased by 12,100 tonnes to 1,934,400 tonnes
on March 25.
On March 25, domestic social stocks of aluminum ingots fell by 19,000 tons from Monday to 1.
236 million tons
.

As far as the current fundamentals are concerned, the inventory opening and dematerialization undoubtedly further supports the aluminum price, and the downstream start continues to rise, short-term in the supply and demand contradiction is not yet prominent aluminum prices or maintain a high level of strong shock operation, but the market fear of heights has not completely dissipated, aluminum prices rushed or there is still some pressure, the main force above can continue to look at 18,000 pressure level, below support 17,000, the operation upstream and downstream can just need to stock, it is expected that next week spot aluminum stable medium and small rise
.