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As of the afternoon close, the main 2205 contract of Shanghai aluminum closed down at 22960, down 50, or 0.
22%; Aluminum prices continued to fluctuate during the day, the main force of Shanghai aluminum has always fluctuated around the 23,000 mark, up and down, technically, aluminum prices are under obvious pressure at 23,000 in the short term, and it is difficult to stabilize
for the time being.
Affected by the domestic epidemic, weak demand and poor transportation, the spread of market pessimism dragged down the upward weakness of aluminum prices, on the other hand, overseas geopolitics is still in an unstable stage, which has advantages and disadvantages
for aluminum prices.
The main trading logic of the recent aluminum price is still overseas, the current situation in Russia and Ukraine is still relatively uncertain, it is necessary to continue to pay attention to the follow-up sanctions of European and American countries against Russia, the impact of the domestic epidemic has expanded, inventory has begun to accumulate, and the price has formed a certain pressure unilaterally, but the current cost side is still relatively firm
.
On the whole, from the direct reflection of the inventory side, we believe that it is difficult for aluminum prices to continue to fall, overseas inventories fell to around 670,000 tons, and domestic inventories are also at a low level; The main force of short-term Shanghai aluminum continues to pay attention to the 22500 support, and the fluctuation range can refer to 22800-23200; Night trading needs to be vigilant against the downside risk of continued volatility, and spot aluminum is expected to be stable and weak
.
