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Alcoa and Hydro successively announced sanctions against Russia, the market is worried about global supply intensified, London aluminum continued to hit a record high, the highest rise in the day to 3691.
5, almost broke the 3700 mark; as of the close of 3 p.
m.
, the main 2204 contract of Shanghai aluminum closed up at 23775, up 850, or 3.
71%.
From the perspective of many aluminum companies in Europe and the United States sanctioning Russia, although it is not required by official measures, but as a large proportion of global aluminum companies, the intensification of contradictions will further aggravate the lack of market supply, we have talked about the current global aluminum market is still in the "stock crisis", along with the Russian-Ukrainian war and the escalation of contradictions between the United States and Russia, logistics and transportation will also become a major problem, under the influence of multiple positive news, it is expected that Shanghai aluminum will follow the external market in
the near future.
In terms of inventory, the social inventory of electrolytic aluminum this week increased by 18,000 tons to 1.
117 million tons, the pace of resumption of production on the supply side accelerated, and the consumption situation remained stable, but in the case of a low base of production capacity on the supply side, supply and demand are still tight, and the second quarter can be expected to go to storage, superimposed on overseas disturbances, and it is expected that Shanghai aluminum will run
strongly.