Shanghai aluminum runs low and short-term fundamentals are weak

Today's Lun aluminum trend is strong, LME three-month aluminum Beijing time at 15:00 at 2041 US dollars / ton, up 10.
5 US dollars, or 0.
52%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 15540-15580 yuan / ton, down 120 yuan; Guangdong South Reserve reported 15580-15640 yuan / ton, down 150 yuan; Hua reported 15630-15650 yuan / ton, down 150 yuan
.
There are many circulating sources, it is difficult for holders to ship, the overall demand has weakened, and the transaction activity has declined
.

Industry highlights, Bahrain Aluminium Company (Alba) reached an annual output of 1.
5485 million tons in 2020, exceeding the design capacity of 1.
54 million tons, which is the highest commercial operation record in 50 years of business, an increase of 13%
year-on-year.
It is the world's largest aluminum smelter
outside of China.

After the recent macro uncertainty landed, the overall atmosphere was optimistic again, which formed a certain support
for aluminum prices.
However, the fundamentals face the impact of the price short-term dominance, this week inventory inflection point finally established, considering that demand will further fall and the continuous growth of supply, the important factors supporting aluminum prices have changed, aluminum prices will be in a phased decline, short-term recommendations are short, the actual accumulation range and the expected difference will determine the range of prices
.