Electrolytic aluminum will be further destocked to support the continuous rise of aluminum prices

Today's Shanghai aluminum main month 2106 contract opened at 19455 yuan / ton, the highest intraday 19945 yuan / ton, the lowest 19385 yuan / ton, settled 19695 yuan / ton, and closed at 19855 yuan / ton, up 565 yuan
.
Today, Shanghai aluminum continues to climb, refreshing the highest since July 2008, the global economic recovery prospects are more optimistic, China-Australia tensions may affect the supply of raw materials, electrolytic aluminum will be further destocked, supporting prices continue to rise
.

Today, LME three-month aluminum opened low and high, and the LME three-month aluminum Beijing time was reported at 2540.
5 US dollars / ton at 15:01, up 30.
5 US dollars, or 1.
22%,
from the settlement price of the previous trading day.

In terms of the market, today's spot trading price of Yangtze River is 19660-19700 yuan / ton, up 550 yuan; Guangdong South Reserve reported 19670-19730 yuan / ton, up 540 yuan; China reported 19780-19800 yuan / ton, up 540 yuan
.
Holders are slightly reluctant to sell, trading at high prices is weak, large households are generally enthusiastic about receiving goods, and transaction activity is average
.

Recently, the news of the deterioration of China-Australia relations has spread, and the suspension of China-Australia economic exchanges by the National Development and Reform Commission may have a huge impact
on the future major overseas supply of bauxite and alumina.
This year's overall fundamental level is in a tight balance of supply and demand margin, and electrolytic aluminum gradually tends to balance from oversupply in April
.
In May, the increase and resumption of production of enterprises have been opened, and the early stage was affected by the disturbance of the supply side, and the decline in production due to some "dislocation" reasons will gradually return to its place, and the production of electrolytic aluminum in May will rise again according to the trend of previous years
.

In terms of demand, the speed of aluminum rods and other processed products out of the warehouse is accelerating week by week, the terminal demand for real estate, power grid and home appliances has increased significantly, and new energy vehicles have declined due to the problem of some "core shortage", but the overall terminal demand margin is good, and the pattern of electrolytic aluminum supply and demand in May may continue
.
At present, the social inventory level of electrolytic aluminum is 1.
115 million tons, and the speed of aluminum ingot destocking has certain signs of decline, optimistic that the price center of gravity will continue to move up, but the subsequent upward momentum has cooled
.