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This week's aluminum price fell from a high level, Shanghai aluminum showed a high downward trend, as of Friday's close, closed down at 19805, down 3.
88%; This week, Lun aluminum showed a continuous downward trend, under the pressure of high inflation in many countries, the center of gravity of Lun aluminum plate moved down as a whole, the bearish news came out, and the market is expected to stop falling next week, but the upward momentum is still insufficient, and it is expected to fluctuate between $2480-2580
.
The "Central Bank Super Week" hit during the week, countries have raised interest rates within the market "expectations", aluminum prices briefly rebounded and then weakened again, in the macro short and domestic fundamentals also limited support, short-term is expected aluminum prices or maintain a shock adjustment trend
.
In terms of the market, the market continued to fall, downstream enterprises were more cautious in entering the market to receive goods, and the transaction volume was weaker
than last week.
East China: The US CPI data rose more than expected, coupled with the first two days of this week, due to concerns about the results of the Fed's interest rate meeting, the market performance was cautious, aluminum prices fell sharply, spot aluminum prices once fell below the 20,000 mark, global inflation problems continue to ferment, market concerns intensify, aluminum prices are weak and difficult to change; As of Friday, spot aluminum prices in East China were between 19,890-19,930 yuan / ton, down 590 yuan / ton
from last Friday.
South China: As of Friday, Foshan Nanhai aluminum ingot ticket price between 20150-20250 yuan / ton, down 500 yuan / ton from last Friday, the current East China South China aluminum ingot price difference is 290 yuan / ton, the local market supply is relatively abundant, downstream enterprises just need to stock the mainly
.
At present, the problem of global high inflation is already in a continuous fermentation stage, which may be difficult to effectively curb in the short term, and the macro bearish will hover above the nonferrous market; Domestically, due to the poor resumption of work and production of downstream enterprises, the demand performance is uneven, although the social treasury is constantly dematerializing, but the actual hidden inventory is still large, and the overall spot market still shows a trend of "oversupply", so the strength of support below the aluminum price is also limited
.
