Supply-side uncertainty increases, and aluminum prices continue to fluctuate range

Due to the greater impact of the epidemic on the arrival of aluminum ingots, the market spot resources are very tight, the overall reluctance to sell, the market receives more goods, and the premium has a tendency to expand, but the downstream purchasing sentiment is more general, mainly the circulation between traders
.

Overseas, the European Commission proposed a package of emergency energy measures, European natural gas prices fell sharply, while the LME and the United States sanctions against Rusal have not made new progress, holders continue to hand over positions on the LME market, LME inventories have increased sharply and still put pressure on Lun Aluminum
.
Domestically, the production reduction during the dry period in Yunnan is still expected, and the recent rumors that the production reduction may increase, and the downstream construction will remain stable, but the epidemic situation in many places repeatedly needs attention
.
Social inventory increased slightly but remained at a low level, and it is reported that the affected time of the platform in Gongyi area has been extended, and it may continue to affect the arrival of goods
in some areas.

Overall, supply disturbances and low inventories are still supported, but macro pressure is still in place and consumption improvement expectations have yet to be fulfilled, still dominated by shock thinking, and the push of news may bring empty opportunities, focusing on demand and accumulation
.