Shanghai aluminum continues to rise Fundamentals still have support

The London Metal Exchange (LME) is closed today for the Christmas holidays
.

In terms of the market, today's spot trading price of Yangtze River is 16290-16330 yuan / ton, up 50 yuan; Guangdong South Reserve reported 16490-16550 yuan / ton, up 40 yuan; Hua reported 16400-16420 yuan / ton, up 40 yuan
.
The premium is still strong, the enthusiasm for downstream procurement is not high, the enthusiasm of large households to receive goods is average, and the overall transaction is average
.

In terms of inventory, the latest LME aluminum inventory was 1372350 tons, down 5,750 tons from the previous trading day; The aluminum warehouse receipt of the previous period was 65,887 tons, down 1,446 tons
from the previous trading day.

In terms of spot, the mainstream spot trading price in Shanghai, Wuxi and Hangzhou markets was concentrated between 16250-16290 yuan / ton, up 210 yuan / ton, and 230-270 yuan / ton
.

The latest weekly inventory is still gone, and Shanghai aluminum opened lower and then rose
.
Due to the high consumption growth rate and the gap between supply and demand, the inflow of imported aluminum ingots has become a key variable to regulate supply, and imported goods are expected to arrive in Hong Kong
in mid-to-late December.
In the later period, with the inflow of goods and the weakening of downstream consumption, Shanghai Aluminum faced pullback pressure
.
The short-term emotional catharsis caused by the mutant virus has eased, and attention is paid to the sorting
out of Shanghai aluminum on the 15600 platform.
From a medium-term perspective, the long-term new production landing is lower than expected, and this year's high consumption base guarantees the total long-term consumption, greatly alleviating the long-term supply pressure, and the medium-term aluminum price has turned to a volatile view
.