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Last week, Shanghai aluminum fluctuated and fell, the main weekly decline of 1%, the market focused on the new round of economic restart plan in the United States, coupled with the gradual repair of domestic fundamentals and macro risk improvement, short-term aluminum prices have a greater probability of stability, pay attention to 1.
2-12,500 range oscillations, and operationally can be bought
on demand.
In terms of external trading, last week London aluminum trend is stable, the overall shock in the 1479-1530 US dollar range oscillation, macro sentiment significantly eased, even if the price of U.
S.
crude oil fell sharply, but the market hopes that the Fed will introduce more stimulus policies, with the rebound of crude oil prices, and the market has reduced attention to the impact of the epidemic, short-term aluminum prices maintain a low volatility market, pay attention to the 1470-1550 range shock
.
East China: The market is less worried about the overseas epidemic, electrolytic aluminum destocking accelerated, aluminum prices continued to rise, with the period of crude oil prices plummeted and other factors, the market is unstable, but the overall center of gravity is more obvious, as of Friday, East China spot aluminum prices in 12440-12480 yuan / ton
.
In terms of market transactions, aluminum prices fluctuate greatly during the week, traders inquire more, some traders are bullish on the future market, there is a stockpiling phenomenon at the bottom, downstream enterprises perform more at the beginning of the week, procurement is mostly reflected in the next two days, and the overall market transaction is acceptable
.
South China: As of Friday, the price of Foshan aluminum ingot belt is 12870-12970 yuan / ton, and the price difference with East China has widened, currently at 460 yuan / ton; At that time, the market supply tightened, the spot premium increased, the holders raised the price of shipments, the downstream enterprises were afraid of heights, and the actual receipt was limited
.
Stocks: domestic social electrolytic aluminum stocks, Shanghai 167,000 tons, Wuxi 57.
7 tons, Hangzhou 135,000 tons, Gongyi area 118,000 tons, Nanhai area 286,000 tons, Tianjin 54,000 tons, Linyi 09,000 tons, Chongqing 14,000 tons, consumption area aluminum ingot inventory total 1.
359 million tons, weekly decrease of 136,000 tons
.
Spot: As of Friday, East China spot aluminum prices were reported at 12440-12480 yuan / ton, up 310 yuan / ton from the previous week, and the futures turned 50; The market supply is tight, the holders are firm in selling prices, and the transaction price is about 200 higher; Aluminum prices fell into a stable trend, focusing on the volatility around 12500
.
Last week, Shanghai aluminum fluctuated down, the main shock fluctuated in the 12000-12500 range, a weekly decline of 1%; The collapse of the May contract price of US crude oil futures on Tuesday dragged the metal down, the market returned to panic, and aluminum prices fell; However, the market focused on the new round of economic restart plan in the United States, the panic of the global economy falling into recession has eased, coupled with the repair of domestic fundamentals and the improvement of macro risks, in the short term, the main force of Shanghai aluminum continues to focus on the volatility between 1.
2-12,500, the lower support is 12,000, and the operation is on
demand.
