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Overnight, Shanghai aluminum fluctuated
in a narrow range.
Processing enterprises in Henan have limited production on a large scale, and the amount of local ingots has increased, but the impact of large factories is limited
.
On Monday, the social inventory of domestic aluminum ingots fell by nearly 10,000 tons, refreshing a new low for the year, and consumption resilience in other regions is still very strong
.
The willingness of spot price support is strong, the monthly difference structure is maintained, it is recommended to treat it with temporary shocks, and the far month pullback to buy to earn monthly profits can still participate
.
In terms of the market, the price of Chinalco East China AOO aluminum ingots was 1665 yuan / ton, down 70 yuan
.
LME aluminum inventory unexpectedly increased sharply, while domestic aluminum ingot social inventory maintained a decline, indicating that short-term consumption is still not weak, but aluminum rod social inventory has accumulated slightly, and spot aluminum prices are expected to rise or fall little
today.
Yesterday, most industrial products were under pressure at a high level, and Shanghai aluminum was stimulated by destocking to recover part of the decline
.
Due to the high consumption growth rate and the gap between supply and demand, the inflow of imported aluminum ingots has become a key variable to regulate supply, and imported goods are expected to arrive in Hong Kong
in mid-to-late December.
In the short term, the domestic destocking and automobile consumption stimulus policies again improved risk appetite, and Shanghai aluminum rebounded
.
In the later period, with the inflow of goods and the weakening of downstream consumption, Shanghai Aluminum faced pullback pressure
.
From a medium-term perspective, the long-term new production landing is lower than expected, and this year's high consumption base guarantees the total long-term consumption, greatly alleviating the long-term supply pressure, and the medium-term aluminum price has turned to a volatile view
.
