Shanghai aluminum shock downward price trend lacks strong support

In the external market, today's Lun aluminum volatility downward, LME three-month aluminum Beijing time at 15:00 at 1962.
5 US dollars / ton, down 7.
5 US dollars, or 0.
38%
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River was 14800-14840 yuan / ton, down 240 yuan; Guangdong South Reserve reported 14820-14880 yuan / ton, down 310 yuan; Hua reported 14920-14940 yuan / ton, down 230 yuan
.
Holders are active in shipments, large households are generally active in receiving goods, the willingness to receive goods is not strong, and the transaction activity is average
.

Industry news, data from the General Administration of Customs showed that China's aluminum imports in December increased by 40.
5% from the previous month, stopping a three-month downward trend and hitting a record high
in 2020.
Arrivals for the full year of 2020 were 2.
7 million tonnes, an increase of 318.
7%
over 2019.

In terms of fundamentals, the domestic epidemic rebounded, and logistics restrictions were strengthened in the northern region, affecting downstream construction and aluminum ingot shipments; In winter, consumption slowed down in the north, some rod factories stopped production, and the amount of ingots increased; Electrolytic aluminum production continued to expand, and consumption slowed down significantly
.

At present, the epidemic risk has escalated, consumption is restricted, spot transactions are weak, accumulation is advanced, inventory and warehouse receipts have rebounded, and the short-term rebound is expected to be limited due to limited
arrival restrictions and stable rebound.