Shanghai aluminum volatility is strong, and there is support in fundamentals

Today, LME three-month aluminum opened higher and higher, LME three-month aluminum Beijing time at 15:01 at 2378.
5 US dollars / ton, up 20 US dollars, or 0.
85%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 18200-18240 yuan / ton, up 30 yuan; Guangdong South Reserve reported 18210-18270 yuan / ton, up 10 yuan; Hua reported 18300-18320 yuan / ton, up 30 yuan
.
Holders sell at a high price, the willingness to receive goods is not strong, the enthusiasm of large households to receive goods is average, and the transaction performance is average
.

In terms of fundamentals, this week's domestic social inventory decreased by another 50,000 tons from the previous week to 1.
194 million tons, and the pace of inventory decline this week remained relatively fast, and short-term aluminum ingot stocks are expected to continue to decline
.
There is a certain risk of pullback in the short term after the consolidation of high aluminum prices, but the inventory acceleration downward support prices, aluminum prices may maintain strong shocks, in addition to medium and long-term strong fundamentals also support prices
.

Under the current historical absolute high price, the short-term rapid rise makes it take time to digest the downstream, and the suppression of consumption is obvious, or the price has fallen
.
However, under the strong performance of domestic rigid demand and the continuous recovery overseas, the high foundation of aluminum prices is solid, maintaining a strong volatility
.