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Overnight, Shanghai aluminum fluctuated at a high level, Shanghai aluminum pullback market purchases increased, and spot discounts narrowed
.
At the beginning of the week, aluminum ingots and aluminum rods were destocked by 10,000 tons, and the consumption performance in the peak season was acceptable, but the supply side was increasing in production, and the primary aluminum import window showed signs of
restarting.
There is a demand for a pullback after the recent rapid rise of nonferrous metals, but under the macro atmosphere and capital dominance, it is difficult to say that the strong Shanghai aluminum has turned around, wait and see
.
Since April, the impact of domestic dual control of energy consumption is gradually fading, the supply of electrolytic aluminum is increasing, and the aluminum import window shows signs of restarting, the fundamental support is limited, and spot aluminum prices are expected to fall
.
Recently, due to the rapid rise in aluminum prices, downstream processing enterprises are afraid of heights, and the market circulation is not good, but from the perspective of downstream orders, the current order volume is sufficient, and demand is still good, supporting aluminum prices
.
Therefore, it is expected that domestic electrolytic aluminum will maintain a slight destocking trend in May, but the destocking rate may be difficult to increase
.
At the same time, the electrolytic aluminum industry in May and June may usher in a concentrated production period, or usher in a boom
in supply and demand.
Overseas, they continue to pay attention to vaccination and epidemic control
.
In the short term, aluminum prices remain strong under the push of macro sentiment, and a pullback is not ruled out, but the high price recommends caution in the rhythm of operation
.
