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This week coincides with the domestic Dragon Boat holiday, June 25-June 26 domestic closed, LME metal normal trading, in three trading days, the overall shock of London aluminum in the range of 1580-1610 US dollars, Shanghai aluminum still maintained a strong trend of volatility, intraday and then hit a new high, the highest climbed to 13755, but fell into the rise has slowed down
compared with the previous period.
In terms of market transactions, due to the holiday, the willingness of cargo holders to ship has increased, the market supply is relatively abundant, the enthusiasm of middlemen to receive goods is not high, downstream enterprises just need to stock goods, and the market transaction is general
.
East China, the fall of the dollar and the rebound of crude oil prices boosted, aluminum prices continued to move up this week, but due to the lack of actual support, the rise has slowed down, as of Wednesday East China spot aluminum prices in 13990-14030 yuan / ton, up 100 yuan from last Friday, this Thursday, Friday due to the Dragon Boat Festival holiday closed
.
In South China, the rise of aluminum ingots in South China this week was slightly inferior to that in East China, with prices between 14320-14420 yuan / ton as of Wednesday, up 80 yuan / ton from last Friday; In terms of market transactions, due to the impact of the holiday, the enthusiasm of middlemen to enter the market in recent days is not high, and the transaction is mostly reflected in the procurement
of downstream enterprises.
From a fundamental point of view, the domestic society aluminum ingots continue to go to storage, and under the strong support of spots, aluminum prices have a limited decline, but about to enter the consumption off-season, the trend of weak supply and demand in the later period is becoming more and more obvious, bearish factors continue to accumulate, aluminum prices may be difficult to have a high rise, long and short game, short-term aluminum price volatility probability is very large, does not rule out the risk of
pullback in the later stage.
