基础金属	铜电解铜铜精矿铜管铜棒废铜铜排铜合金精铜杆再生铜杆铜板带铝铝土矿氧化铝电解铝铝辅料铝棒铝合金锭废铝铝杆铝型材铝板卷铅铅精矿铅锭铅蓄电池再生精铅还原铅废铅蓄电池铅合金锌锌精矿电解锌锌合金氧化锌锌粉锡锡精矿锡锭锡材
稀有金属	稀土稀土矿稀土氧化物稀土金属钕铁硼稀散金属锑铋铟锗镓硒钽锆贵金属白银钨钨精矿钨粉碳化钨钨酸钠钨条钨铁钨材钼钼精矿工业氧化钼钼铁钼化工高纯三氧化钼钼金属钛钛精矿钛渣四氯化钛海绵钛钛金属钛白粉
新能源	锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极电解液隔膜隔膜电解液电芯

2025年3月21日铝杆日报：铝杆市场震荡整理库存去化与需求疲软博弈延续

2025-03-21 16:49:34 来源：北方有色网责任编辑：管理员

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一、市场走势分析
今日沪铝主力合约呈现震荡偏强格局，宏观层面，美联储维持利率不变的决议缓解了市场对经济放缓的担忧，为有色金属市场提供了一定支撑。然而，市场对铝价的方向性突破仍需更多经济数据验证，短期铝价延续区间震荡态势。

二、现货市场动态
现货市场中，铝杆市场交投氛围清淡，下游采购情绪谨慎，对高价原料的接受度有限。尽管部分持货商尝试通过调整加工费策略促进成交，但整体市场仍显疲软。主流地区铝杆加工费持续承压，不同区域间存在结构性差异，反映出供需博弈的复杂性。终端需求释放不及预期，进一步抑制了现货市场的活跃度。

三、库存与供应格局
库存方面，国际市场延续去库趋势，LME 铝库存显著减少，显示海外供应偏紧。国内铝锭库存亦呈现去化态势，对铝价形成短期支撑。值得关注的是，国内铝产业供应端出现新动态，贵州计划新建 50 万吨电解铝项目，若顺利实施，将进一步提升国内电解铝产能，中长期或对市场供应格局产生影响。

四、后市展望
短期内，铝价受库存去化支撑仍具备一定韧性，但需求端复苏不及预期，叠加加工费低位运行，市场观望情绪浓厚，预计铝杆价格将维持震荡整理走势。中长期需关注新建项目的落地进度以及消费端的实际回暖情况，尤其是新能源等领域对铝需求的拉动效应，这些因素将成为铝杆市场突破方向的关键变量。

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2025年3月21日铝杆日报：铝杆市场震荡整理 库存去化与需求疲软博弈延续

2025年3月21日铝杆日报：铝杆市场震荡整理库存去化与需求疲软博弈延续