Lun aluminum stopped falling and stabilized The decline of Shanghai aluminum slowed down

Overnight Lun aluminum opened flat at 1709.
0 US dollars / ton, the Asian market began to rise to around 1720 US dollars / ton, after the European session Lun aluminum first adjusted at a low level, and then continued to rise and returned to 1740 US dollars / ton line, the end of the day slightly stabilized, closed at 1739 US dollars / ton, up 1.
87%, the volume had reached 13,000 lots, the position increased to 751,000 lots
.
The operating range of London aluminum is expected to remain between
1700-1760 US dollars / ton.

Since the Spring Festival holiday, 255,000 tons have been accumulated, and the current electrolytic aluminum inventory has increased to 945,000 tons
.
As of Friday, the spot aluminum price in East China was 13520-13560 yuan / ton, down 570 yuan / ton from before the holiday, and the futures discount was 110; Market demand is weak, and the resumption of work of downstream enterprises is generally extended to after the 15th of the first month, which is about a week later than the traditional situation
.

In the short term, the impact of the epidemic still continues, the delay in the start of downstream work, the slow resumption of work leads to short-term oversupply, and the inventory of social aluminum ingots increases
more than expected.
At present, manufacturers may generally face labor difficulties, and demand is difficult to pick up
significantly.

In the case of Shanghai aluminum contraction, the sideways adjustment market began to rise sharply, and the futures price rebounded after stepping back on the platform support around 13680 after confirming that it was valid
.
Pay attention to the opportunity of this platform to test more low, and try to break the 10-day moving average during the session to be blocked from falling, but the rebound pattern has come out, and the probability of breaking through this week is still large
.

As China's stimulus measures eased epidemic worries, and Lun Aluminum stopped falling and stabilized, the decline of Shanghai aluminum slowed down, and the main intraday returned to the 13500 mark support, and the overall shock was around
13600-13700 yuan.
Inventory accumulation and market concerns about primary aluminum consumption are concentrated on the plate
.