Shanghai aluminum continues to be weak and wary of short-term price adjustment

Today's London aluminum volatility weakened, LME three-month aluminum Beijing time at 15:00 at 2211 US dollars / ton, down 3 US dollars, or 0.
14%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River was 17070-17110 yuan / ton, down 110 yuan; Guangdong South Reserve reported 17050-17110 yuan / ton, down 160 yuan; Hua reported 17170-17190 yuan / ton, down 140 yuan
.
Outbound goods increased, demand improved, large households received goods enthusiasm is acceptable, and transaction activity increased
.

On the supply side, the high profit of electrolytic aluminum smelting and the continued opening of the import window are expected to rise by 11.
1% to 3.
44 million tons in March, and there is room for further
upside in the future.
On the demand side, affected by the recovery of operating rate, the excess situation of electrolytic aluminum will be improved, and the accumulation cycle is about to end
.
However, it should be noted that a large number of downstream enterprises began to stock up in the second quarter of last year to improve actual demand, and it is necessary to pay attention
to whether there can be higher growth under the serious fear of heights this year.

Market rumors that the State Reserve dumped 500,000 tons of aluminum ingots led to a sharp decline in Shanghai aluminum futures yesterday, although it is difficult to distinguish between true and false and the proportion of reserve dumping output is low, but from a fundamental point of view, the current fundamental expectations and reality have accumulated a large contradiction
.
For the future market, aluminum prices short-term or into a wide range of shock market, does not rule out the possibility of continuing to decline, from the past historical trend of aluminum has appeared "off-season not light, peak season not strong" market
.