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Overnight, the main Shanghai aluminum 2109 closed at 19290, up 180, and LME aluminum closed at 2465.
5, up 8.
5
.
Shanghai aluminum shock is strong, Henan flood caused aluminum plants in some areas to stop production, the second batch of national reserves is planned to be 90,000 tons, higher than the previous 50,000 tons lower than market expectations, aluminum prices ushered in a rebound
.
At present, the operating rate of most downstream enterprises is facing a seasonal decline, and there is a certain digestive pressure
in the market.
On the macro side, the National Development and Reform Commission organized the next round of copper, aluminum and zinc storage, with 30,000 tons of copper, 90,000 tons of zinc and 50,000 tons of zinc all increasing, but lower than the number of
market discussions.
On the supply side, Qinghai Haiyuan, Shanxi Zhaofeng, Shaanxi Hengkang and other electrolytic aluminum plants continue to resume production, the impact of Yunnan's production restriction disturbance in the early stage gradually fades with the arrival of the rainy season, but the recent news of power cuts in Yunnan, Henan and Inner Mongolia may delay the original resumption of production
.
In terms of inventory, the current electrolytic aluminum social inventory still continues to destock, this week's inventory decreased by 26,000 tons, the overall water level is above the level of 832,000 tons, downstream aluminum rod inventory gradually has a small accumulation of storage, further indicating that the off-season is approaching
.
The high aluminum price in the early part of this year inhibited downstream consumption, and the peak season showed a certain degree of backward phenomenon, and the inflection point of this year's accumulation also has a trend
of postponing backwards.
At the end of the current aluminum price peak season and the double help of the national RRR reduction, there is still a small upside under the support of the tail of the peak season, and the price may appear weak after the official off-season, and at the same time, under the support of this year's continuous low water level social inventory, the price is difficult to reduce significantly, pay attention to the specific time
when the accumulation inflection point may occur in late July.
