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This week, Shanghai aluminum entered a high volatility pattern, the first half of the week aluminum prices showed a stable trend, the overall volatility is small, but after a few days of precipitation period, aluminum prices have another upward trend, intraday once approached the 19,000 mark; as of Friday's close, Shanghai aluminum main 2107 contract closed at 18670, a cumulative decline of 0.
21%.
This week, Lun aluminum first fell and then rose, once fell to around the 2300 mark during the session, but with the gradual stabilization of macro sentiment, the decline in aluminum prices slowed down, and even rushed higher again, with a cumulative increase of 3.
4% during the week; At present, after Biden announced that he would launch a $6 trillion stimulus package, market bulls' confidence rose again, and aluminum prices rebounded, but in the medium and long term, the upward pressure on aluminum prices under multiple policy pressure is still strong, and it is expected that next week Lun aluminum may fall, focusing on the fluctuations of the 2360-2460 range
.
In terms of the market, due to the impact of policy regulation and control, market sentiment is unstable, holders are favorable to more normal shipments, the intention to chase higher is not strong, the market supply is more abundant, but traders and downstream enterprises are worried about the price decline, enter the market more cautiously, wait and see or purchase on demand, the overall market transaction is average
.
East China, Yunnan, Inner Mongolia, Guangdong implementation of power rationing measures, electrolytic aluminum supply affected, superimposed Biden proposed a $6 trillion budget plan to boost infrastructure, this week aluminum prices after the shock on Friday ushered in a big rise, a single day increase of 450 yuan / ton, as of Friday, East China spot aluminum prices between 18800-18840 yuan / ton, up 370 yuan from last Friday, an increase of 2%.
In South China, as of Friday, the price of Foshan Nanhai aluminum ingots was between 19190-19290 yuan / ton, up 110 yuan / ton from last Friday, the increase was significantly inferior to East China, mainly due to
Monday's aluminum ingot in South China.
The market is unstable, and there are not many downstream enterprises stockpiling merchants, and they just need to buy
.
During the week, all departments issued a strong statement on the rise of commodities, requiring major enterprises to improve their positions and put an end to hoarding and malicious price increases; Although the macro policy pressure is still relatively fierce, under the support of the capital and fundamentals, the colored disk turned red for the second time; However, on the whole, the upward momentum of aluminum prices is still relatively lacking, on the contrary, under long-term policy pressure, Shanghai aluminum may still fall into the risk of pullback again, focusing on fluctuations in the range of 1.
8-18,800
.
