February 21 aluminum market morning review

Overnight, the London aluminum shock was weak, closing at $1712 / ton, down $13, or -0.
75%.

The main force of Shanghai aluminum ran at a low level in 2004, closing at 13670 yuan / ton, down 40 yuan / ton, or -0.
29%.

On the whole, downstream enterprises have not fully resumed work, aluminum prices have limited momentum, but some alumina companies have been forced to stop production due to the epidemic, which has supported aluminum prices, and it is expected that Shanghai aluminum will fluctuate within the day, with an operating range of 13500-14000
.
FYI
.

The continued strength of the US dollar index weighed on metal prices, and the overnight metal fell overnight, and the London Stock Exchange three-month aluminum price closed down 0.
75% to $1712/ton
.
The overall transaction of the domestic morning spot market has not improved significantly, the middlemen receive goods with interest, the downstream start is picking up slowly, and the mainstream transaction price in Shanghai is around 13,600 yuan / ton, which is about 60 discount to futures
.
The mainstream transaction price in Guangdong is around 13620 yuan / ton
.

The domestic epidemic situation has improved significantly, but the prevention and control measures have not been relaxed, and transportation and other aspects are far from recovering, resulting in the slow resumption of work of downstream processing enterprises, consumption still needs to be improved, and in the case of continuous rise in production, short-term oversupply pressure is greater, and inventories continue to rise, thereby suppressing aluminum prices
.
However, under the expectation of improved consumption, prices are unlikely to fall
sharply.
Operationally, it is recommended to wait and see for
the time being.