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Last week, aluminum prices fluctuated steadily, with Shanghai aluminum rising 0.
08% and Lun aluminum rising 1.
9%; Market trading tends to be cautious during the week, spot premium narrowing, but due to macro policies and strong expectations of support, aluminum price performance resistance, in the short term, the game between macro and fundamentals is not over, Shanghai aluminum continued to fluctuate at a high level, focusing on the range of 1.
91-19,500, and Lun aluminum focused on $2450-2550
.
Last week, Shanghai aluminum as a whole fluctuated in a narrow range between 19085-19375, the performance of the disk was not as good as the previous week, more stagflation, the cumulative increase was 0.
08%, it is expected that the short-term disk is still dominated by high volatility, or around 1.
91-19,500
.
Last week, Lun Aluminum showed a high downward trend, and the overall volatility between 2462-2577 US
dollars.
It is expected that the short-term London aluminum will still fluctuate at a high level, and you can continue to pay attention to the results of the Fed interest rate meeting, if it is expected by 50 basis points, the impact on the disk will not be too large, or continue to fluctuate
around $2450-2550.
In terms of the market, the price is at a recent high, and downstream enterprises are not willing to enter the market to receive goods due to the reduction of orders and fear of heights, and there are not many stocking enterprises; Although the epidemic has gradually liberalized, it will still take some time for the market to react, and overall, the market transaction during the week has not changed much
compared with the previous week.
East China: Although the epidemic prevention and control is gradually optimized and relaxed, but affected by the traditional off-season, downstream demand is weak, aluminum prices rose to around 19,500 and then blocked to fall, the overall performance first rose and then fell, as of last Friday, East China spot aluminum prices between 19240-19280 yuan / ton, down 70 yuan / ton
from last Friday.
South China: As of last Friday, the price of Foshan Nanhai aluminum ingot tickets was between 19450-19550 yuan / ton, down 140 yuan / ton from last Friday, and the price difference between the two places has narrowed to 240 yuan / ton
.
Last week, spot trading in the South China market was relatively cautious, with transactions mostly centered on traders and cargo holders, and downstream enterprises mostly entered the market in the second half of the week to stock up on demand; Although many places in China have liberalized epidemic policies, the residual temperature of the epidemic still affects the production and operation of enterprises, and low consumption expectations have dampened the enthusiasm of downstream enterprises for stocking, and it is expected that the short-term market volume will be relatively limited, and a large number of stocking stage goods still need to wait for mid-to-late December
.
