February 24 aluminum market morning review

Most of the non-ferrous metals market was green this morning, with Shanghai aluminum down nearly 0.
8%.

On Friday, the main 2004 contract of Shanghai aluminum opened at 13,675 yuan / ton, the weak finishing after the initial increase in positions, fell below 13,600 yuan / ton in the afternoon, and closed at 13,580 yuan / ton at the end of the day, down 0.
66%, the trading volume increased to 45,000 lots, the position increased to 124,000 lots, night trading continued to be suspended, and the recovery time was to be determined
.
The weekly line closed the solid shade, the main contract increased by nearly 30,000 lots, and the support of the first line of 13,500 yuan / ton was below, and it is expected that the main force of Shanghai aluminum will run in the range of 13,400-13,700 yuan / ton
.

Last week, the active trading of the aluminum rod market increased, inventory increased, supply was abundant, consumption was poor, the base price fell, and the processing fee was weakly adjusted; Traders and aluminum rod manufacturers have increased their quotations and shipments, although the downstream has started work one after another, but the increase in demand is limited, the actual transaction is limited, and some holders are subject to financial pressure to adjust prices and sell
.
It is expected that the number and scale of processing enterprises to resume production this week are expected to continue to expand, and the Guangdong aluminum rod market will also further recover
.

In addition, with the partial recovery of inter-provincial and cross-city logistics, automobile aluminum rods from the southwest began to be sent to Guangdong one after another, and aluminum rods piled up on platforms/ports before and after the holiday also flowed into the market, and processing fees will continue to be under pressure
from the supply side in the short term.