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Brief comment on the aluminum market: Today's aluminum price fluctuated higher, as of the close of 3 p.
m.
, the main 2202 contract of Shanghai aluminum closed up at 21290, up 220, or 1.
04%.
In terms of the market, as of the 17th, domestic social stocks decreased by 03,000 tons from last week to 739,000 tons, and pre-holiday stocks continued to fall
.
The weak consumption logic of aluminum in the early stage has gradually weakened its impact on prices, and short-term price pressure comes from concerns
about resuming production.
On the macro front, last week, the Indonesian president officially announced that he would suspend bauxite exports until the end of the year, although the market has some psychological expectations for this news, but it will still have a certain impact on the domestic supply side during the year; In addition, the central bank's policy side has been favorable to the upward trend of prices in recent days, and the "interest rate cut" has promoted rapid economic development, and downstream consumption is expected to increase again during the year, and short-term aluminum prices will rebound
again under the expectation of gradual imbalance between supply and demand.
