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Today's Shanghai aluminum rose sharply, as of 3 pm, the main 2008 contract of Shanghai aluminum closed up at 14290, up 240, or 1.
71%.
China's stock market continued to rally, with strong risk appetite driven by economic recovery and liquidity, and U.
S.
stocks also soared to new highs, ignoring the news of the worsening of the
epidemic.
Driven by various stimulus policies at home and abroad, the current market optimism is high, terminal demand continues to rise, and the overall macro atmosphere is good
.
In terms of inventory, low inventories still form a strong support for aluminum prices; Although the social stock of aluminum ingots is still declining, the decline rate is only 04,000 tons, and the inflection point is approaching
in the short term.
On the cost side, the price of alumina is affected by the production reduction of northern alumina enterprises, and the short-term increase is obvious
.
In general, the recent market risk appetite has improved, aluminum prices continue to rise probability is large, Shanghai aluminum main force above temporarily pay attention to 14,500 pressure level, operation can be bought on demand, the early long order can continue to hold; it is expected that tomorrow's spot aluminum rise, up about
100.
