The direction of the market is uncertain, and Shanghai aluminum is running weakly

Yesterday's aluminum prices were weak, mainly affected
by overseas metal prices.
Under the Russian-Ukrainian conflict, Rusal's exports and transportation may be blocked, coupled with European energy prices continue to rise, European electrolytic aluminum production reduction concerns continue to heat up
.

In terms of domestic fundamentals, Yunnan, Inner Mongolia and other places have begun to resume production, and the process of resumption of production is uneven
.
The aluminum market shows a state of external strength and internal weakness, and the import window continues to close
.
In terms of consumption, downstream consumption just needs a seasonal slow recovery, but considering the current high aluminum prices or suppressing demand, it is necessary to pay attention to the impact
of the epidemic and environmental protection control in the north on the downstream resumption of work.

In terms of inventory, social treasury data showed that inventories accumulated and slowed down
.
On March 7, domestic aluminum ingot stocks were 1.
144 million tons, 24,000 tons
more than Thursday.
LME aluminum inventories fell by 8,175 tonnes from the previous session to 771,000 tonnes
on March 9.

In terms of price, the threat of the energy crisis to overseas electrolytic aluminum production capacity may continue, and it is necessary to continue to pay attention to the progress of domestic electrolytic aluminum production and the recovery of downstream demand.