Social inventory continues to destock, and Shanghai aluminum has received strong support

In the external market, today's Lun aluminum weak shock, LME three-month Beijing time at 15:01 at 2803 US dollars / ton, down 17 US dollars, or 0.
60%,
from the previous trading day's settlement price.

On the macro front, European weather prices triggered cross-regional arbitrage, some LNG ships turned around to supply Europe, natural gas prices fell by nearly 45% at a high level, and electrolytic aluminum production is expected to slow down; US regulators granted Pfizer emergency use authorization for the new crown oral drug, the economic recovery prospects have accelerated, and risk appetite may strengthen
.

In terms of the market, today's spot trading price of Yangtze River is 19910-19950 yuan / ton, up 170 yuan; Guangdong South Reserve reported 19990-19960 yuan / ton, up 110 yuan; China reported 20010-20030 yuan / ton, up 140 yuan
.
Holders actively sell value-preserving sources, the receiving party is more proactive in purchasing than yesterday, the overall transaction is good, and the transaction is average
.

On the news front, Villeforedo Moncano, director general of the Philippine Bureau of Mines and Geosciences, said on Tuesday that the Philippines has lifted the ban on open-pit mining of copper, gold, silver and composite ores, the second landmark policy move
this year by the government to try to revive the industry.

At present, the rapid decline in natural gas prices in Europe has eased expectations of continued production cuts; Approaching the holiday, the outbound performance is still strong, the accumulation is expected to be significantly delayed, and it is recommended to wait and see
.