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Yesterday's Shanghai aluminum main contract 2205 opened at 21235 yuan / ton, the highest price of the day was 21910 yuan / ton, the lowest 21670 yuan / ton, closed at 21840 yuan / ton, up 90 yuan from the previous trading day's closing price, an increase of 0.
44%.
Yesterday's aluminum prices were strongly volatile, mainly due to the release of the news of the domestic RRR cut, which boosted market sentiment
.
Overseas, the situation in Russia and Ukraine has not yet made substantial progress, but the energy logic still has some support
for external aluminum prices.
In terms of domestic supply, the current profit of electrolytic aluminum is at a high level, the production capacity of Yunnan, Guangxi and other places continues to rise, the output is released one after another, and the supply pressure continues
.
Affected by the epidemic, raw materials and alumina transportation have been affected, and the pressure of fire transportation has intensified
after the significant decline in automobile transportation capacity.
In terms of consumption, affected by the domestic epidemic, the transportation capacity in the Yangtze River Delta and the Pearl River Delta is tight, but the State Council recently issued the Notice on Effectively Ensuring the Smooth Operation of Freight Logistics, which needs to pay attention to the recovery of transportation and downstream processing and shipment in
the later stage.
In terms of inventory, domestic social library data shows that inventory has been destocked, logistics and transportation have gradually improved, and logistics is expected to be eased
.
Overseas inventories fell to around 600,000 tonnes, a historic low
.
As of April 18, domestic aluminum ingot stocks were 1.
065 million tons, down 26,000 tons
from the previous week.
LME aluminium stocks were -08,000 tonnes to 608,000 tonnes
from last week.
In terms of price, the current aluminum market is affected by the epidemic There is a phased mismatch between supply and demand, and it is recommended to treat it with a wait-and-see approach in the short term, and it is expected that consumption will improve as the epidemic eases and the backlog of orders is released from terminals and downstream
.
