February 2 aluminum market afternoon comment

On Friday, Lun aluminum rushed back down and turned lower to close in the shade, with a large fluctuation range, closing at $
1960.
5.
After the daily rise of Shanghai aluminum, it opened slightly lower in the night session, and the shock closed the doji, closing at 15220
.
Shanghai aluminum trading positions fell simultaneously, and the market was biased to wait and see
.
Henan's environmental protection production restrictions have supported aluminum prices below, and pre-holiday stocking factors have also supported aluminum prices, and short-term Shanghai aluminum may continue to be high
.
Upper pressure 15500, lower support 15000
.

The delay in the EU's new crown vaccination dragged down the progress of the economic recovery in the euro area, the dollar index continued to rebound, and non-ferrous metals were briefly under pressure
.
On Monday, data showed that the social inventory of electrolytic aluminum rose again to more than 700,000 tons, and aluminum prices continued to rise without being affected by the rise in inventory, and the short-term bottom of Shanghai aluminum was confirmed
.
The operating rate of aluminum products has declined, downstream processing enterprises have entered a holiday state, and subsequent electrolytic aluminum consumption will continue to weaken, paying attention to the accumulation space
of Shanghai aluminum.
It is expected that the Shanghai aluminum shock operation will be dominated
by the previous year.