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Today's aluminum price continued to be weak and volatile, as of the close of 3 pm, the main 2201 contract of Shanghai aluminum closed down at 18770, down 85, or 0.
45%.
On the macro front, after the comprehensive RRR cut by 0.
5 percentage points, the central bank cut interest rates again, lowering the relending interest rate for supporting farmers and small enterprises by 0.
25 percentage points, and the market atmosphere warmed up again
.
The positive factors on the supply side are mainly concentrated in the production limit part, recently the second round of the fifth batch of central ecological environmental protection inspectors fully launched, with the Winter Olympics approaching superimposed energy consumption dual control task requirements, domestic supply-side production tightened, the northern electrolytic aluminum plant has the expectation of reducing production, and it is difficult to have new production projects settled within the year, there is some support
below the aluminum price.
On the demand side, the recent performance of downstream replenishment order demand is acceptable, and the consumption side has improved in stages, but it is necessary to be vigilant that downstream processing enterprises will limit production
again due to environmental protection requirements of the heating season and the Winter Olympics.
At present, long and short factors are intertwined, and the market will also enter a phased consolidation, waiting for the direction to be chosen
.
