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Shanghai aluminum rose
overnight.
In terms of fundamentals, domestic social stocks increased by another 123,000 tons to 1.
057 million at the end of last week, and the low accumulation of stocks during the Spring Festival has eased, and short-term aluminum ingot inventories are expected to increase first and then fall
.
Despite the outstanding performance of short-term aluminum ingots, the increase in medium-term supply under high prices and low inventories is obvious, and there is a risk
of correction in aluminum prices.
In terms of trends
, short-term aluminum prices are expected to enter high volatility.
On the macro front, the US 1.
9 trillion plan passed this week, and the chairman of the Federal Reserve on Tuesday may reiterate that monetary policy remains loose; fundamentally, SMM inventories on the 22nd reported 1.
022 million tons, an increase of 12.
1 from before the holiday, because East China to the northwest before the holiday, the arrival peak was late; In the same period, the steel union statistics of aluminum rod inventory of 274,500 tons, an increase of 34,500 tons over the pre-holiday period, aluminum rod inventory growth is high
.
The current aluminum price has traded part of the demand season expectations in advance, so it is recommended that investors pay attention to the inventory data in the next 1-2 weeks and the recovery progress of downstream enterprises after the holiday, and wait for the short-term fundamental reality to lag behind the expected aluminum price correction entry opportunity
under the expectation and the real game.
