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Overnight, Shanghai aluminum continued to fluctuate
.
After the Spring Festival, the total increase in the inventory of aluminum ingots and aluminum rods was basically the same as the same period in recent years, and the spot was slightly
discounted.
In the case that the supply side is disturbed by the energy consumption policy, with the recovery of downstream construction, the peak season is expected to be destocked
.
However, due to the continued high price of aluminum, consumption may be partially suppressed, and it is necessary to pay attention to whether consumption can be realized
.
On the supply side, the three smelters in Mengdong were affected by the government's energy consumption control, forced to partially reduce production, the current production capacity declined, and the crisis of production reduction due to energy consumption control in the province cannot be completely lifted in the short term and there is a risk of further expansion, while the regional new investment progress is expected to be affected during the year, although Yunnan will return to the new investment rhythm after the holiday, but the overall supply is expected to decline
compared with before.
At present, the peak season demand is expected to be good, inventory will return to decomposition, low inventory logic or reproduction, aluminum still has upside
.
This week's aluminum price followed last week's high and continued the adjustment trend
.
Under the current high aluminum price situation, aluminum processing companies are obviously afraid of heights, and most companies have begun to reduce inventory and switch to on-demand procurement
.
At present, the price has fallen back to around 17,000, and the aluminum price adjustment is expected to continue
.
