[SMM News] Aluminum inventory continues to drop by nearly 20, 000 tons. Shanghai Aluminum once again stands at the Wanliu pass.

SMM11 March 26: aluminum prices continue to rise since November, Shanghai Aluminum 2012 contract from November 2, 14410 opened, all the way up to today's highest 16035, an increase of more than 13%. In the spot market, Wuxi was between 16130 and 16150 yuan / ton yesterday, and the discount was concentrated between 100,120 yuan / ton and 280yuan / ton every other month. The off-season is not light, low inventory plus de-inventory continues, further pushing up aluminum prices.

"Click to see the metal market.

In terms of inventory, on November 26th, SMM counted domestic electrolytic aluminum social inventory of 596000 tons and weekly reduction of 19000 tons. Wuxi, Nanhai and other major consumer places arrived less, and the overall efforts to get out of the warehouse were maintained. "check the details.

On the demand side, the latest research results of SMM show that the start-up of leading enterprises downstream of aluminum increased slightly by 0.1%, and the increment mainly came from plate, strip and foil enterprises. From the terminal point of view, the focus of consumption has not changed in the short term, automobile, photovoltaic consumption is prosperous, and although real estate consumption has been weakened, building materials enterprise orders can be maintained.

Without abating demand, the supply side of aluminum ingots did not increase significantly on the Synchronize side. Inventory decline rapidly, low inventory further push up aluminum prices, low inventory decline and consumption stability give bulls strong confidence in the fundamentals, Shanghai aluminum is expected to continue its strong trend, we need to continue to pay attention to the impact of marginal changes in inventory on market sentiment.