Shanghai aluminum trend is strong There is still some support in the fundamentals

Today's Lun aluminum is running at a low level, and the LME three-month aluminum is trading at 2461.
5 US dollars / ton at 15:01 Beijing time, down 25 US dollars, or 1.
01%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 18780-18820 yuan / ton, up 450 yuan; Guangdong South Reserve reported 18940-19000 yuan / ton, up 440 yuan; Hua reported 18910-18930 yuan / ton, up 450 yuan
.
The circulation supply is abundant, the enthusiasm of shipment is improved, the enthusiasm of large households to receive goods is general, and the downstream is afraid of heights and wait-and-see, and the transaction is general
.

In terms of news, electrolytic aluminum supply is still expected to tighten, Yunnan electrolytic aluminum enterprises peak production may have a greater impact on some production capacity, the current downstream consumption is still in the traditional peak season, social inventory further dematerialization, is expected to spot aluminum prices soar.

On the macro front, Biden threw out a $6 trillion budget bill for areas such as infrastructure, and demand expectations were
boosted.
Many ministries and commissions have continuously expressed their stance to curb the excessive rise in commodity prices, and market sentiment has plummeted; However, short-term demand is strong, new production capacity is stagnant, production reduction scale is large, destocking is strong, spot support is strong, and wait-and-see is the mainstay
.