Inventory has been in the accumulation cycle Pay attention to whether aluminum prices can be transmitted to the demand terminal

As of the 22nd, the social inventory of aluminum ingots reached 1.
022 million tons, and the accumulation of about 270,000 tons after the Spring Festival, 300,000 tons lower than the same period last year, and the peak of aluminum ingot accumulation this year is expected to reach about
1.
3 million tons.

In addition, downstream aluminum rod inventories also increased significantly, reaching 264,500 tons, an increase of nearly 110,000 tons over before the Spring Festival, which has exceeded the highest point
last year.

The particularity of this year's Spring Festival determines the mismatch of production and demand in the downstream processing industry, and some aluminum ingots are accumulated in advance to downstream finished product inventory, paying attention to whether the current aluminum price can be smoothly transmitted
to the demand terminal.

It is understood that the orders of downstream aluminum processing enterprises have been digested mainly from the backlog of orders before the holiday, and some leading enterprises have received orders well, and the production is planned to be in the middle of the
year.
However, in general, downstream enterprises are resistant to the rapid rise in aluminum prices, and some companies consume standing inventory to produce, reduce the number of standing inventory days, avoid the current high price purchase, and increase the discount from the spot quotation, which also indicates that the procurement sentiment is not good
.