Aluminium Price Was Stable And Expected To Increase

During the Spring Festival, the domestic closing price of LME aluminum was 2614 dollars/ton at 3:00 p.m. on January 20, and the closing price on January 27 was 2627.5 dollars/ton, up 0.52%. Optimistic recovery expectations led to stronger prices. In terms of inventory, LME inventory increased slightly during holidays, and the near-end structure weakened slightly after warehouse delivery; On January 28, SMM's domestic stock was 929000 tons, with an increase of 185000 tons compared with January 19, which was relatively fast, but it was in line with the adjusted expectations. In terms of supply, the resumption of electrolytic aluminum production is mainly concentrated in Sichuan, and the rest of the region is stable. The overseas Bahrain aluminum industry has increased slightly, mainly due to the recovery of profits after the decline of energy prices. In terms of demand, Europe and the United States replenished their stocks slightly, and China remained optimistic about the recovery of demand. The holiday date of downstream manufacturers before the holiday is earlier than that of previous years, the order performance is general, and the overall stock is limited. After the holiday, it is expected to resume work at two time points: the seventh day of the first day and the fifteenth day of the first month. The resumption time is not significantly different from that of previous years.