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As of Friday's afternoon close, the Shanghai aluminum main 2205 contract closed up at 21850, up 490, or 2.
29%.
In terms of external trading, the LME will be closed
from April 15 (Friday) to April 18 (Monday) due to Good Friday, April 15, 2022 and Easter Day on April 18, 2022.
In terms of news, the United States will impose tariffs of 10.
5%-11% on Russian primary aluminum, which will hinder the export of Russian primary aluminum and aggravate market supply concerns, and the country will timely support economic growth by cutting bank reserve requirements and other policy tools, favorable policy measures to repair market sentiment, aluminum prices are rebounded, and aluminum is expected to rise
.
During the week, aluminum prices gradually opened up the upward pattern, and the main reason for this came from the fact that the state took control of transportation in many places, accelerated the smooth logistics of real enterprises, and alleviated the contradiction between supply and demand driven by the current epidemic to a certain extent; On the other hand, the recent National Council proposed to reduce the RRR and interest rates, which undoubtedly boosted the willingness of small and medium-sized enterprises to resume work and production, and also promoted the recovery
of market sentiment.
With the support of a number of domestic initiatives, aluminum prices ushered in a bottoming trend, and it is expected that spot aluminum as a whole next week may still maintain a high level of strong shock operation, but it is worth noting that the bearish effect on the market before the epidemic has not completely dissipated can not be ignored, there is still the possibility of shock adjustment during the session, Shanghai aluminum can pay attention to the shock range of 21400-22200
.