Last month, LME March aluminum continued to rise strongly. LME March aluminum futures opened at 1,751 US dollars in the morning and hit a higher upside of 1,782 US dollars on the same day. The same day, the stock fell to a low of 1747 and ended the day at 1774 U.S. dollars, up by 24 U.S. dollars from Wednesday. The volume of 118,474 lots was 382,472 lots, which was an increase of 3,001 lots compared with Wednesday, and the inventory was 565,850 tons, which was 5,875 tons less than that on Wednesday. Aluminum on the London Metal Exchange (LME) period rose on Thursday, with three-month aluminum up by $24 to 1,774, supported by a 5,875-ton drop in LME inventories. Message surface: It is reported that China has agreed that more aluminum smelters will import alumina directly from abroad. Some government officials stated that they have not yet formally decided to announce the ban on the processing of alumina processing. At present, the trade enjoys export tax rebate policy. The industry expects that the relevant authorities will announce the above decision while announcing the expansion of the number of alumina import companies. Foreign exchange market: Tokyo Euros pulled back from a seven-month low in early trading on Wednesday morning and temporarily fell out of the previous setback; the Netherlands will hold a referendum on the EU constitution later today, and the market expects the Netherlands will vote against it. France rejected the EU constitution in the referendum last weekend, causing the euro to fall by nearly 0.01 US dollars in London and New York on Tuesday, highlighting the market’s concern for the euro zone. The euro was already hit by the slowing economic growth in the region. At 0238 GMT, the euro was trading at around $1.2330 against the US dollar, and the Asian currency had a low 1.2298 at the beginning of the session, just slightly above the seven-month low of 1.2296 set by New York. New York's trading trend was a late reaction to the results of the French referendum because the US market was closed on Monday when it was a holiday. Operational recommendations: rebound to lighten up.
