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Overnight, Shanghai aluminum continued to fluctuate
.
The social inventory of aluminum ingots rose to 1.
2 million tons, and the total increase in aluminum ingot and aluminum rod stocks after the Spring Festival 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
.
US wholesale sales for January came in at 4.
9% m/m vs 1.
2% prior, 1.
4%
expected.
Eurozone Sentix investor confidence index 5 for March, -0.
2 prior, 1.
9
expected.
U.
S.
Treasury Secretary Janet Yellen said the stimulus bill would help the U.
S.
economy achieve a strong recovery
.
The U.
S.
economy is likely to return to pre-pandemic levels
next year.
U.
S.
economic data exceeded expectations, market confidence was strong, the dollar rose sharply overnight, non-ferrous metals diverged, copper and zinc rose, aluminum and lead fell
.
From a fundamental point of view, aluminum social inventory is still in the accumulation cycle, but the accumulation shows signs of
slowing down.
From the perspective of downstream processing fees, the high aluminum price in the early stage failed to be successful in the processing fee, the processing fee such as aluminum rod has declined, the downstream processing enterprises continue to bear high pressure, and the spot market volume is cold
.
Whether the rise in aluminum prices can be smoothly transmitted to the terminal is the key in the later stage, and the demand is expected to land
.
