Shanghai aluminum prices stopped falling and market demand performed better

Macro aspect: the new strain of the virus found in the UK has gone out of control and spread 70% faster, which has led to the epidemic getting out of control in the UK, London and other places have been locked, and the market is pessimistic about the out-of-control epidemic in Europe
.

On the supply side: China's average daily production of primary aluminum in November reached a record high
.
According to data from the Bureau of Statistics, China's primary aluminum production in November increased from a year earlier, with average daily production hitting a record high, and more smelting capacity came online
amid strong demand and high aluminum prices.
Demand side: Domestic terminal demand for automobiles, photovoltaics and household appliances is strong
.

Stocks: LME stocks fell by 5,625 tonnes to 1,378,100 tonnes yesterday, stocks in the previous period fell by 1,875 tonnes to 212,700 tonnes last week, and warehouse receipts fell 575 tonnes to 67,333 tonnes
.
According to the data on December 21, the accumulation of social stocks is 06,000 tons, compared with the statistics on December 17, which is 604,000 tons
.
Overall, the domestic electrolytic aluminum social inventory is still at a low level, which still supports the price
.

On the whole, the current aluminum market fundamentals are still relatively stable, the contradiction between supply and demand is not prominent, short-term in the macro area before no major improvement, aluminum prices or around the change of social inventory and change, the overall range shock-based, spot can continue to pay attention to 16,000 support, operationally buy on demand, it is expected that tomorrow's spot aluminum stable and small rise
.