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On Monday, Shanghai aluminum pulled back, and the overall shock was weak, mainly because the impact of the news of European electrolytic aluminum production reduction on domestic market sentiment weakened
.
Last week, the average operating rate of leading aluminum downstream processing enterprises fell by 0.
1 percentage points to 67.
6%, of which the operating rate of aluminum cables and recycled aluminum alloy fell first
.
On the macro front, the PBOC said that prudent monetary policy in 2022 should be flexible and moderate
.
Comprehensively use a variety of monetary policy tools to maintain reasonable and sufficient liquidity and enhance the stability
of total credit growth.
Ministry of Finance: In 2022, active fiscal policies will improve efficiency and pay more attention to precision and sustainability
.
It is necessary to implement greater tax and fee reductions to enhance the vitality of
market entities.
On the supply side, domestically, the production capacity of Yunnan Honghe New Materials Co.
, Ltd.
's 1.
9286 million tons of electrolytic aluminum construction project was replaced in Honghe Prefecture, Yunnan, with a publicity period from December 24 to January 7, 2021, and is planned to be built in March 2022 and put into operation
in March 2023.
Abroad, last week, by the European natural gas price soared, a number of European aluminum plants announced production reduction plans, production capacity reduction involves 300,000 tons, last weekend, the United Kingdom represented by natural gas prices fell sharply, resulting in the easing of production reduction concerns, aluminum prices have fallen but the support is still strong, continue to pay attention to the European energy situation
.
On the inventory side, the export volume of electrolytic aluminum in China's main regions (12.
19-12.
26) was about 169,000 tons, a decrease of 15,000 tons from the previous period, and 130,000 tons
in the same period last year.
In terms of news, the NDRC proposed to accelerate the construction of the "1+N" policy system, solidly promote the "Ten Major Actions for Carbon Peaking", conduct in-depth research on major issues, and strengthen basic capacity building, so as not to engage in "carbon charge" or sports "carbon reduction"
.
In terms of price, the current aluminum market fundamentals are relatively stable, short-term need to pay attention to the continuation of European power problems and domestic year-end consumption, aluminum prices may be affected by market sentiment fluctuations
to maintain volatility.
