July 13 aluminum market brief commentary

Today's non-ferrous metals overall performance is strong, aluminum prices rose sharply, as of 3 pm, the main contract of Shanghai aluminum closed up at 14730, up 400, or 2.
79%.

In terms of inventory, the domestic electrolytic aluminum social stock is currently 712,000 tons, a decrease of 03,000 tons
compared with the previous value.
It is already mid-July, but the electrolytic aluminum inventory continues to maintain a dematerialization trend, and the overall phenomenon shows that the off-season is not light
.
The spot market remained tight and premiums remained high
.
Low inventories are still the reason why aluminum prices remain firm, and non-ferrous metals remain strong overall, and short-term Shanghai aluminum still needs to remain on the idea of more
.

On the whole, aluminum prices may continue to fluctuate at a high level, on the one hand, the trend of aluminum prices in the external market strongly supports the domestic long sentiment, on the other hand, the overall macro is warm, and the market bullish sentiment is higher; However, because the current aluminum price has been too high, the fundamentals do not support its continued upward movement, the short-term increase is expected to slow down, and at the same time close to the futures delivery, the price of aluminum under the large contract price difference is large, there is a risk of making up for the fall, the main force of Shanghai aluminum can continue to pay attention to the 15,000 pressure level, the operation is recommended to wait and see, cautiously chase long; It is expected that the spot aluminum price will not fluctuate much
tomorrow.