The situation in Russia and Ukraine supports the external market Aluminum prices show a pattern of external strength and internal weakness

Today's high level of Lun aluminum retreated, and the LME was reported at 3388 US dollars / ton at 15:01 Beijing time for three months, down 7 US dollars, or 0.
21%,
from the settlement price of the previous trading day.

In terms of the market, today's spot trading price of Yangtze River is 22540-22580 yuan / ton, down 140 yuan; Guangdong South Reserve reported 22510-22570 yuan / ton, down 170 yuan; Hua reported 22580-22620 yuan / ton, down 150 yuan
.
The supply of spot circulation is abundant, and the holders have no choice but to reduce shipments, but the market demand is light, and the supply exceeds the demand and the transaction is not ideal
.

Today's Shanghai aluminum morning high fall, afternoon shock rebound, Europe and the United States to Russia financial sanctions escalation aggravated overseas aluminum supply concerns, superimposed energy rise to lead to the resumption of European aluminum production is far away, but domestic high prices under the weak demand performance, superimposed oversupply transaction is not good, aluminum price performance is weak
.

Overall, the short-term uncertainty of the situation in Russia and Ukraine will still support Lun Aluminum, thereby driving Shanghai Aluminum to maintain a high level, but the geopolitical risk of trading is large, and the current high aluminum price is more cost-effective
.
From the perspective of domestic fundamentals, supply and demand have recovered, inventories are still in the accumulation stage, the overall contradiction is not obvious, and the country's recent further improvement of the coal market price formation mechanism has a certain pressure on aluminum prices, it is expected that aluminum prices will still maintain a pattern of external strength and internal weakness, pay attention to the situation in Russia and Ukraine, inventory inflection point and resumption of production rhythm
.