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Overnight, Shanghai aluminum 2202 closed at 20155 up 285, LME aluminum closed at 2812 down 8; On the macro front, US regulators granted Pfizer emergency use authorization for the new crown oral drug, the prospect of economic recovery has accelerated, and risk appetite may strengthen
.
In terms of the market, the decline in aluminum costs has made electrolytic aluminum companies currently profitable, Yunnan, Inner Mongolia some aluminum companies began to slowly resume production, this week electrolytic aluminum inventory fell from last week mainly due to the re-ignition of the epidemic caused by poor traffic in some areas, consumption places arrived less and the consumption side was stable
.
Approaching the New Year's Day, some enterprises have stockpile behavior, aluminum prices at this stage or will continue to fluctuate operation, bargaining on demand stocking does not chase high
.
On the fundamental front, domestic social stocks fell 25,000 mt this week from the end of last week to 839,000 mt
.
On the supply side, due to the impact of winter power supply, the output of the main producing areas is limited, and it is expected that there will be a significant increase before February, and the aluminum ingot will continue to be in shortage; In addition, European energy prices are strong, and aluminum plants are at risk
of reducing production.
From the fundamentals, aluminum ingots are expected to continue the strong trend, the price is highly affected by macro sentiment and funds, and the operation is recommended to buy
on the dip.
