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Aluminum market morning comment: overnight Shanghai aluminum volatility is strong, the main force of night AL2202 closed at 20860 yuan / ton, up 1.
02%, holding 752 hands to 212,300 lots
.
In terms of inventory, aluminum ingots returned to the rhythm of destocking this week, with weekly destocking of 23,000 tons to 776,000 tons, and Nanhai, Wuxi, Shanghai and other places contributed major reductions, and it is still necessary to continue to pay attention to the follow-up inventory trend
.
From a fundamental point of view, the European energy crisis is still continuing, overseas electricity prices have hit a new high, European smelters have reduced production options have brought new supply concerns, the news of domestic production increases and decreases at the end of the year is relatively transparent and there is no bright spot, alumina is still in a downward channel, and electricity prices have not changed much, forming a cost trend differentiation at home and abroad
.
Before the Spring Festival, downstream processors have a stocking demand, and there is a certain support for demand
.
Overall, this round of aluminum price rally belongs to the external market driven by the internal disk, it is expected that the future aluminum price will still maintain a strong operation, investors can be light bullish in the short term, turning point to pay attention to the European energy crisis mitigation process
.
In addition, caution omicron has triggered the escalation of epidemic prevention in various countries, the disruption of raw material supply and transportation, and the risk aversion of the phased market
.
