March 31 aluminum market noon review

Overnight, Lun aluminum fluctuated slightly lower at the low, opening as low as $
2232 today.
Shanghai aluminum fell in daily trading, opened low and moved low at the 5-day moving average to close under pressure and close at 17180
.
Shanghai aluminum trading positions have declined, and the news of selling reserves has led investors to show a wait-and-see attitude
.
The future market focuses on the specific information of the dumping rumor, and the short-term focus on the support
around 17,000.
Upper pressure 18000, lower support 17000
.

The dollar index continued to recover as Biden announced his infrastructure plan and expected a recovery in non-farm payrolls this week, closing at 93.
29
.
The recovery of the dollar index has put some pressure
on non-ferrous metal prices.
On March 23, it was rumored that the State Reserve Bank threw 500,000-600,000 tons of aluminum, causing Shanghai aluminum to fall to a limit
during the session.
However, the dumping of storage can not change the tight supply and demand of aluminum, and the impact may be limited
.
Mengdong and Mengxi, Inner Mongolia, have successively introduced policies to limit electrolytic aluminum production capacity, and the supply of electrolytic aluminum will tend to be tight
.
The latest data shows that the social inventory of electrolytic aluminum is 1.
234 million tons, and the inventory fell by 20,000 tons in a single week, and the consumption of electrolytic aluminum has been increased under the peak season, and the inventory will continue to decline
.
It is expected that the aluminum price volatility is strong, and Shanghai aluminum is recommended to continue to hold
.