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Today's aluminum price opened high and low, once fell back to 20000, as of the close of 3 p.
m.
, the main 2109 contract of Shanghai aluminum closed down in 20190, down 160, or 0.
79%.
Recently, under the continuous power rationing and production restrictions, aluminum prices hit a new high in 13 years, spot soared above 20,000 and gradually stood firm, in the short term, the current soaring aluminum price risk is still large, or there is a high pullback possibility, but at this stage low inventory and the continuous shortage of supply side price support is still strong, coupled with the peak season is coming, the subsequent price is still likely
to continue to be high.
It is worth noting that the inflection point of accumulation has gradually appeared in recent days, and the inventory has gradually accumulated during the week, on the one hand, due to the recent easing of aluminum ingot detention in warehouses such as Gongyi and Wuxi, while on the other hand, the demand side is slightly weak; In addition, a new round of national reserve dumping may be launched again, between the previous two reserve dumps did not meet market expectations, the actual reserve dumping this time is still to be seen, or will extend the accumulation cycle, forming a certain drag on aluminum prices; Overall, short-term aluminum prices may face a certain degree of correction, but the range of materials is limited, it is recommended to wait and see for the time being, waiting for low buying opportunities
.
