Overseas epidemic risk escalation, Shanghai aluminum weak shock

On Monday, the London Metal Exchange (LME) is closed and will remain closed on Tuesday to celebrate the public holiday
.

On the macro front, the overseas epidemic risk escalated market sentiment repeatedly, the impact of the news of European electrolytic aluminum production reduction weakened, superimposed on the approaching off-season, aluminum may fall
today.

In terms of the market, the spot aluminum price on December 27, the spot AOO aluminum ingot price of Yangtze River Nonferrous Network was reported at 19810 yuan / ton, down 270 yuan; The price of Chinalco East China AOO aluminum ingots was 19,810 yuan / ton, down 270 yuan
.

On the supply side, November production is basically in line with expectations, December production will pick up slightly month-on-month, supply is expected to remain at a low level during the year, in addition to European electricity costs continue to rise, electrolytic aluminum production restrictions concerns intensify.

On the consumer side, the year-on-year decline in real estate sales area narrowed in November, indicating that the real estate market has improved
in the context of loosening real estate policies.
In the medium term (1 month), the real estate policy has improved, and aluminum prices are not pessimistic
.

Overseas epidemic risk escalation market sentiment repeatedly, European electrolytic aluminum production reduction news on the domestic market sentiment weakened, superimposed on the Spring Festival off-season approaching, downstream consumer demand weakened, the drag on aluminum prices, now aluminum or fall.