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Overnight, Shanghai aluminum continued to fluctuate strongly
.
Recently, the number of new cases in the United States and other regions has fallen sharply, the global epidemic is easing under the background of vaccine promotion, and the economic recovery is expected to make non-ferrous metals soar
across the board.
During the Spring Festival, the domestic social inventory of aluminum ingots increased by about 120,000 tons, lower than last year's 190,000 tons, and spot aluminum ingots were discounted by 70 yuan
.
"Celebrating the holiday in place" may accelerate the recovery of consumption after the holiday, such as the accumulation volume continues to be low, Shanghai aluminum may continue to fluctuate strongly, and the basis is also expected to rise
.
In the market, the price of Chinalco East China AOO aluminum ingots was 16230 yuan / ton, up 460 yuan
.
After the domestic holiday, the downstream market has ah.
com quickly resumed work and production, off-season consumption performance may not be light, in addition, the release of production capacity is not as expected, inventory accumulation is less than expected, and the epidemic in overseas markets shows signs of easing, and spot aluminum prices are expected to rise
.
On the first day after the holiday, aluminum ingot stocks recorded 901,000 tons, an increase of 126,000 tons from before the holiday, the accumulation range is a historically low level, and factors such as the local New Year have created a low accumulation volume, usually two weeks after the holiday is still in the accumulation cycle, pay attention to the return of
consumption.
In the medium term, the pace of production in Yunnan after the holiday will accelerate compared with before the holiday, and the trend of continuous supply growth has not changed, but the consumer side is expected to be more optimistic, and major sectors such as real estate, automobiles, and photovoltaics are still expected to drive in the peak season, and the peak season will still enter the destocking situation
.
At the same time, the recent overseas epidemic is under control, and the economic recovery and fiscal stimulus policies will give strong support to prices at the macro level
.
Aluminum prices are expected to maintain an upward trend
.
