The center of gravity of aluminum prices continues to shift downward, and inventories continue to accumulate

In terms of spot, the actual transaction in the spot market in East China in the morning was lower than the average price, the actual transaction in Shanghai was around 15310-15350 yuan / ton, the transaction in Wuxi was concentrated 15310-15350 yuan / ton, and the transaction in Hangzhou was concentrated around 15350 yuan / ton, as the plate went down, the spot transaction gradually moved down, and the spot premium in East China was concentrated around +40 yuan / ton
.
Near delivery, and the monthly difference is still 230-240 yuan / ton, in the context of rising inventory, spot premium weakened, and is expected to continue
in the future.

In terms of stocks, LME aluminum ingot stocks decreased by 0.
78 million tons to 1.
2981 million tons
on January 12.
According to my nonferrous metals, on January 11, the domestic social stock of aluminum ingots increased by 18,000 tons from last week to 683,000 tons
.

Aluminum prices continue to fall, and aluminum inventories continue to accumulate
.
At present, the circulation of aluminum spot is relatively sufficient, large households maintain receipts, Henan downstream is still limited production, aluminum ingots began to flow to East China, Guangdong, this week the two places aluminum inventory increase is large to a certain pressure
on aluminum prices.
The supply side of electrolytic aluminum has maintained a steady rise, smelter profits are high, in addition to the increase in scrap aluminum imports, the pressure on the supply side is greater than the previous period, coupled with the downstream seasonal demand is weakening, aluminum ingot inventory finally has an inflection point, but after the month change, aluminum ingots maintain a premium, inventory is still at a relatively low level, under good consumption expectations, aluminum prices are expected to support strongly
.