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Overnight, Shanghai aluminum fluctuated
in a narrow range.
Yesterday's news of the State Reserve Dumping drove Shanghai Aluminum to a drop limit, and follow-up attention was paid to how big the actual reserve dump was
.
After the Spring Festival, the accumulation of aluminum ingots and aluminum rods is high, aluminum prices continue to be high to suppress demand, and the opening of the primary aluminum import window will affect the rhythm
of destocking in the peak season.
However, at present, the downstream feedback order is better, and the low price may cause replenishment demand, it is recommended to wait and see
for the time being.
Yesterday, the market suddenly reported that the National Reserve Bank planned to dump 500,000 tons of aluminum ingots, triggering a panic withdrawal of bulls, and the aluminum price fell sharply under the stampede of funds, and the relevant rumors have not yet been confirmed, combined with the previous large overseas delivery, the short-term aluminum price upward formation of greater suppression
.
From a fundamental point of view, the concept of "carbon neutrality" is still hot, and the expected production reduction that may be triggered continues to be beneficial to the supply side of the electrolytic aluminum industry, and on the demand side, it will soon usher in the downstream demand season, and the inflection point of destocking is approaching, which still has some support
for aluminum prices.
Under the intertwining of long and short, combined with the impact of sentiment and capital on aluminum prices in the short term, volatility may intensify
.
