Weakening marginal demand Pay attention to the epidemic and macro disturbance in the face of Shanghai aluminum

Shanghai aluminum fell 1.
9% in January 2021, extending its weakness
in December 2020.
In early January, the high level of Lun aluminum fluctuated back, the overall center of gravity fell slightly, the macro data was light and the epidemic in Europe was serious again, and the aluminum price fluctuated lower; Shanghai aluminum as a whole tends to fall at a high level, inventory has increased slightly, overseas epidemics have been repeated, and corporate profits have been too high to suppress prices
.

In the middle of the month, the high level of London aluminum fluctuated upward, the center of gravity rose slightly overall, US macro policies and data continued to support non-ferrous metals, and aluminum prices fluctuated upward; Shanghai aluminum as a whole tends to fall at a high level, inventory continues to increase, domestic epidemics repeatedly, corporate profits are too high to suppress prices, early electrolytic aluminum profits are higher, import profits open, imports have arrived in Hong Kong to have an impact
on the domestic market.

At the end of the month, aluminum fluctuated at a high level, the overall center of gravity fell slightly, US President Biden officially entered the White House, the market expects more effective epidemic prevention and more stimulus policies, which will continue to support non-ferrous metals, and the overall aluminum price fluctuates
at a high level.

It is expected that marginal demand will weaken in February, but it is necessary to pay attention to the epidemic and macro disturbances in the face of Shanghai aluminum
.