The news of the national dumping of reserves landed and the aluminum market turned good

On the macro front, the Fed's upward revision of inflation expectations eased market concerns
.
From a fundamental point of view, the "ceiling" limit of electrolytic aluminum production capacity and the pressure of the dual carbon policy have highlighted the pressure on the supply side of aluminum; The dumping of storage has led to a tightening of downstream demand, but the demand for new energy has grown rapidly, and short-term disturbances in demand have existed and long-term improvement.
On the inventory side, LME aluminum was slightly destocked, and Shanghai aluminum inventory remained stable
.

At present, the supply-side disturbance is obvious, Inner Mongolia, Yunnan, Guangdong and Guizhou and other places have successively faced measures to limit power and reduce production with high energy consumption, and the shutdown of operating capacity has a significant impact in the short term, in addition, Guangdong is trapped in the fermentation of the epidemic, affecting the circulation of
goods in the market.
At present, the social inventory of electrolytic aluminum continues to destock, reducing by 35,000 tons last week, the overall water level to 919,000 tons, the overall consumption is at the end of the peak season, and the pace of inventory digestion has slowed down significantly
.

Overall, aluminum fundamentals are
well supported.
Macro negativity has eased
in the short term.
From a technical point of view, Shanghai aluminum rebounded slightly, close to the 5-day moving average, it is recommended that short-term traders wait and see, long-term traders take advantage of the dip, and support the 60-day line to profit
.