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Shanghai aluminum volatility weakened yesterday, Lun aluminum continued to fall overnight, and the bottom fell again
.
Aluminum prices are relatively little affected by macro sentiment, after falling below the industry cost line, the downward momentum is insufficient, and the expectation of consumption recovery in the second quarter also supports prices, which are expected to continue to be weak and volatile during the week
.
At present, domestic aluminum inventory into the accumulation, aluminum social inventory is currently beginning to carry out more obvious seasonal accumulation, social inventory accumulation to around 1.
56 million tons, the current price of alumina is weak, the smelting cost of electrolytic aluminum is low, the company's profit is expected to make the later electrolytic aluminum production capacity resumption of worry remains
.
In terms of consumption, it pays attention to the pulling effect
of infrastructure and completed area on aluminum.
Industry News:
1.
Previous period: from April 10, 2020 to January 8, 2021: copper, aluminum, zinc, lead, nickel, tin, rebar, wire rod, hot-rolled coil, stainless steel, gold, silver, natural rubber, pulp, fuel oil, petroleum asphalt futures delivery fee standard temporarily adjusted to 0 (including futures to spot and standard warehouse receipt transfer and other businesses settled through the exchange and charged handling fees according to the delivery standard).
2.
On March 16, RUSAL issued a statement on taking preventive measures against the new crown pneumonia epidemic, and from March 17, employees of the company's headquarters and all employees who are not involved in the production process will work
from home.
The company advises employees not to attend public events and to unnecessary public places
during the pandemic.
Employees currently on business need to return as soon as possible, and all new business travel is suspended
.
Only employees involved in the production process will continue to work
on the production site.
At the same time, the company does everything possible to ensure that the employees at the production site are protected to the greatest extent possible, and the production site takes disinfection measures
.
The macro aspect is bearish for metals, Saudi Arabia's oil campaign and the continuous impact of overseas epidemics, market panic spread today, led by the fall of external metals, domestic metals fell
in response.
However, from a domestic point of view, the resumption of work of specific downstream enterprises gradually improved, but the operating rate is still low, in February, the operating rate of aluminum plate and foil, aluminum profile, aluminum cable and recycled aluminum alloy enterprises has fallen year-on-year, of which the operating rate of aluminum plate and strip foil and recycled aluminum enterprises in February fell by more than 10% month-on-month, and it is expected to rebound slightly in March, but it has declined significantly
compared with the same period last year.
