Market sentiment is more pessimistic Aluminum prices rebounded and fell again

There was a lot of macro data in the United States last week, and the African variant caused panic in the market over the weekend, and industrial products plunged
collectively.
From the perspective of industry fundamentals, aluminum price volatility continues to slow down and is expected to enter range volatility
.
From the perspective of futures, the short-term consolidation trend continued, and the market returned to paying attention to the weak situation of fundamental supply and demand
.
Next week, aluminum prices are expected to continue to fluctuate and consolidate
.
Keep an eye on performance
around 18,000.

At present, the trading price of electricity has been raised in many places, winter is coming, thermal coal demand is good, spot prices are stable, alumina prices are falling, auxiliary material prices are rising, electrolytic aluminum costs are declining, Yunnan Wenshan electrolytic aluminum plant failure, coupled with thin profits, supply or decline.

On the demand side, the real estate policy has loosened, the operating rate has rebounded, but this week is flat, demand recovery is slow, and the current electrolytic aluminum inventory is at a high level
in the same period in history.

Overall, the fundamentals have improved marginally, but they are still weak, while the spread of the Omicron strain in South Africa, the market sentiment is more pessimistic, and aluminum prices are under pressure; In the medium and long term, the logic of supply-side contraction has not changed
.