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Aluminum market afternoon commentary: oil prices fell, overnight Lun aluminum closed down 0.
47%; The domestic resumption of production is progressing rapidly, and the spot trading atmosphere is still weak, and downstream consumer demand is suppressed by high aluminum prices, and aluminum is expected to fall
today.
Commodities generally fell yesterday, and electrolytic aluminum internal and external disks also recorded a slight correction
.
On the one hand, at the end of March, the seasonal off-season effect of non-ferrous metals weakened, and all kinds of domestic electrolytic aluminum inventories showed early seasonal destocking, indicating that the domestic supply and demand structure gradually improved
.
On the other hand, yesterday, the two departments issued the "14th Five-Year Plan" new energy storage development implementation plan, which set a good tone for the next new energy demand, and the expectation of demand recovery is relatively strong
.
As of March 21, domestic social stocks fell by 28,000 tons from last week to 1.
061 million tons
.
At present, the spot basis of domestic aluminum ingots is only slightly discounted, and the price is gradually equalized
.
Affected by consumption in the second quarter and European gas prices, aluminum prices are strong in the short term, and the recent epidemic fermentation has signs of increasing the impact on production in some regions, it is recommended to pay attention
.
In the medium term, there are obvious downside risks
to domestic and foreign consumption under the influence of political tensions, the epidemic and the Fed's interest rate hike cycle.
