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Policy regulation and control to suppress the trend of aluminum prices, today's Shanghai aluminum fell, Shanghai aluminum main intraday fell below the 19000 mark, the lowest down 18390, market panic intensified, then rumors that Yunnan production reduction notice sent charcoal in the snow, Shanghai aluminum pulled back part of the decline, as of the close of 3 pm, Shanghai aluminum main force closed down 1.
76% to 18710, down 335 from the previous trading day; From the trend point of view, the long and short game, the short-term aluminum price correction trend has not ended, and the following continues to pay attention to the 18000 mark support
.
Next week, aluminum prices are expected to fall steadily, and the decline has slowed down
.
On the macro front, the minutes of the Fed's April meeting showed that several members are expected to meet to discuss reducing easing; On the 19th, the National Council once again paid attention to commodity prices and instructed the deployment to do a good job
in ensuring the supply and price stabilization of bulk commodities.
In terms of fundamentals, SMM inventory on the 20th reported 1.
02 million tons, down 4.
1 from last Thursday; during the same period, the steel union statistics aluminum rod inventory was 101,500 tons, down 18,500 tons from last Thursday; Yunnan pulled power cuts, a small number of production capacity reduced production and pressured production, new production capacity was delayed, and other provinces and regions may further increase the dual control of energy consumption
.
Although aluminum prices were partially corrected by the exit of long funds last week, the current supply and demand fundamentals of electrolytic aluminum continue to run strongly, optimistic about the subsequent price return and gradually slow
down as the consumption margin weakens in the peak season.
