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Last Friday night, Shanghai aluminum returned above
10,000.
Social stocks of aluminum ingots fell by 15,000 tons
last week.
On the one hand, the poor shipment in the northwest affected the warehouse, and the market stock increased after the decline in aluminum prices, and the spot premium quickly rose to more than 100 yuan to boost Shanghai aluminum
.
However, in the end, the aluminum ingots will eventually be put into storage, the terminal demand will fall more obviously, and the reappearance of heavy pollution weather may continue to affect the downstream start
.
The accumulation of stocks before the Spring Festival may gradually accelerate, and the downside of Shanghai aluminum still exists, short-term consideration of rebound short selling, medium-term waiting for the low point layout peak season more orders
.
In terms of news, Biden officially became the US president, the market's expectations for his continued easing policy strengthened, the dollar index weakened slightly, and the low level of the dollar index will support
aluminum prices.
Due to the obstruction of Xinjiang shipments, the inventory of domestic electrolytic aluminum consumption places fell again, and the decline in inventory prompted aluminum prices to stabilize and rebound
.
Last Friday, aluminum prices rebounded after falling, did not hit a new low, constitute a stabilization signal, see if the 15100 pressure can break through, pay attention to whether the 14800 or 14600 low can form support, if the support is effective, the stabilization state will be further strengthened
.
This week downstream to start the holiday, aluminum or from this week or next week to start the Spring Festival accumulation, affected by this, aluminum prices in the 14600-15300 range of the probability of volatility is large
.