Shanghai aluminum is strong and volatile, and the margin of supply and demand before the holiday continues to weaken

In the external market, today's Lun aluminum running low, LME three-month aluminum Beijing time at 15:00 at 1993.
5 US dollars / ton, down 7.
5 US dollars, or 0.
37%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 15040-15080 yuan / ton, up 120 yuan; Guangdong South Reserve reported 15130-15190 yuan / ton, up 210 yuan; Hua reported 15150-15170 yuan / ton, up 120 yuan
.
Cargo holders are shipping at high prices, the enthusiasm for receiving goods is reduced, the downstream just needs to be less mining, and the transaction activity is average
.

Industry news, according to data from the National Bureau of Statistics, primary aluminum production reached 3.
27 million tons in December 2020, a year-on-year increase of 7.
6%; The output from January to December was 37.
08 million tons, a year-on-year increase of 4.
9%.

Aluminum production hit a new monthly high in December, and aluminum production hit an annual high
in 2020.

Although the recent macro impact is still there, but lack of trend guidance, aluminum fundamental impact prominent, especially the change of inventory, although this week continued to go to the warehouse, but the narrowing of the range of destocking actually affected the market expectations, the recent weather, the impact of the epidemic have an impact on the accumulation range, then the price probability fluctuates
.
However, on the whole, the logic of the pre-holiday supply and demand margin continuing to weaken is still there, aluminum prices continue to be under pressure, and it is recommended that short orders continue to be held
.