核心观点随着市场对海外AI 用电会将存量电解铝供应挤出的担忧加剧，LME 铝非商业持仓净多头数量明显上升，LME 偏低的库存引发挤仓风险，LME 与SHFE 铝价差大幅走扩吸引买SHFE 卖LME 反套入场，推动SHFE 铝表现强势。建立在供应打满基础上的全球电解铝供需平衡极容易被打破形成失衡的状态，尤其是海外能源紧张可能会引发生产中断，同时，轻量化的属性赋予铝消费具有极强的渗透性。因此，铝价易...
Source Link核心观点随着市场对海外AI 用电会将存量电解铝供应挤出的担忧加剧，LME 铝非商业持仓净多头数量明显上升，LME 偏低的库存引发挤仓风险，LME 与SHFE 铝价差大幅走扩吸引买SHFE 卖LME 反套入场，推动SHFE 铝表现强势。建立在供应打满基础上的全球电解铝供需平衡极容易被打破形成失衡的状态，尤其是海外能源紧张可能会引发生产中断，同时，轻量化的属性赋予铝消费具有极强的渗透性。因此，铝价易...
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