In terms of warehouse receipts, the warehouse receipts in the previous period on the 7th continued to increase, and the aluminum in the previous period increased by 2,840 tons to 607,337 tons. From the point of view of increase, the main reason is that the supply side is not affected by the core, while the demand side is weak.
In addition, the price of aluminum water has weakened, which may cause smelting companies to increase the casting of aluminum ingots, while short-term demand has not significantly improved expectations, so explicit inventory is still in an increasing pattern.
In addition, from the main strategies for dealing with air pollution in the northern region, many places have vigorously strengthened clean heating, green emergency response, and responded to heavy pollution; and the core has strengthened the control of energy combustion pollution. In addition, 18 inspection teams in Henan Province will Go to various places to supervise unannounced visits. The supervision mainly includes the construction of construction site dust control, construction waste removal and disposal, urban road dust control, winter air pollution comprehensive management and tackling actions, etc., focusing on the supervision and formulation of the winter dust pollution prevention and control work plan of each city and county industry department. The operation of sealing the land, the special rectification of construction waste disposal and disposal, and the supervision and supervision of “Keike on the net”.
The overall impact on terminal demand.
In addition, due to the pressure of aluminum prices falling, Shanxi alumina prices all declined, but the relative price of aluminum was further strengthened, and the profit of electrolytic aluminum was further compressed, but it was not enough to damage the supply of electrolytic aluminum.
In view of the overall situation, maintaining the previous view, due to weak demand and difficulty in further sharp decline in the supply side, there is still a certain surplus in current supply and demand, and the inventory turning point still fails to show.
Strategy suggestion: Going to the implementation of illegal production capacity, Luliang winter peak production exceeded expectations, will increase the cost of electrolytic aluminum to reduce the production of electrolytic aluminum, so the effect of de-capacity or gradually emerge. However, the inventory is repeated and the downstream terminal's ring changes are sluggish. In terms of specific operations, it is recommended to take the bargain-hunting as the mainstay and not to chase the high.