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Yesterday's aluminum prices continued to be weak and volatile
.
Recently, the National Council will once again emphasize the problem of commodity price increases, and propose to investigate abnormal transactions and malicious speculation, most commodities fell yesterday night, and non-ferrous metals also had a certain pullback
.
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 spot, LME aluminum spot discount was $24.
75/ton, compared with $14.
25/ton
in the previous trading day.
Yesterday's near-month aluminum prices maintained a downward trend of reducing positions in the morning, East China spot trading concentrated 19540-19560 yuan / ton, the flat water of the month continued, relative to the tight spot market in South China, East China spot continued to stabilize, holders Pingshui near shipments are more active, middlemen bargain bargaining intensified, but the overall market liquidity is still relatively stable
.
In terms of stocks, LME stocks stood at 1,759,700 mt as of May 19, down 0.
58 million mt
from the previous session.
As of May 17, the social stock of aluminum ingots fell by 27,000 tons from last week to 1.
034 million tons
.
From a fundamental point of view, although the supply side of Inner Mongolia is still affected by the dual control of energy consumption and limited production, but with the acceleration of the pace of domestic new construction and resumption of production in the second quarter and the recent reopening of the import window, the overall supply will still increase, the consumer side is still in the traditional peak season, except for the automotive sector due to the lack of core problems caused by the decrease in orders, the rest of the orders gradually improved, but the continuous upward price may form a strong suppression
of demand.
In terms of price, the current macro and capital face the impact of aluminum prices is obviously greater, short-term recommendations are still to bargain and do long operation
.
In addition, for a long time to come, various news of carbon neutrality and production restrictions may still form a pulse increase in aluminum prices
.
