There is still support on the supply and demand side, and the decline of Shanghai aluminum is limited

Today's London aluminum shock is weak, LME three-month Beijing time at 15:01 at 2600 US dollars / ton, down 13 US dollars, or 0.
48%
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 19760-19800 yuan / ton, down 20 yuan; Guangdong South Reserve reported 19870-19930 yuan / ton, down 20 yuan; Hua reported 19820-19860 yuan / ton, down 30 yuan
.
The holder actively ships the goods, the receiver actively purchases at the low, the trading atmosphere is acceptable, and the overall transaction is average
.

From a macro perspective, the Fed interest rate meeting indicated that it would continue to maintain monetary easing and market sentiment was good, but the domestic epidemic blossomed in many places, and the economic recovery was blocked, superimposed on the Politburo meeting once again emphasized the issue of
stabilizing commodity prices.
From a fundamental point of view, the "ceiling" limit of electrolytic aluminum production capacity and the pressure of the dual carbon policy, and the upgrading of power restrictions in various places, the supply of aluminum is tightening; The profit window for aluminum imports is closed, import demand is weakening, but the new energy and photovoltaic industries support long-term demand; From the perspective of inventory, the speed of aluminum social inventory destocking has accelerated
.
Shanghai aluminum volatility strengthened, running high, short-term advice cautious wait-and-see
.