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The Shanghai aluminum index was still fluctuating around the high of 15,095 yuan at the beginning of the week, and the price fell sharply to 14,265 yuan on Tuesday, and since then the repair decline has risen slightly, closing at 14,535 yuan this week, down 460 yuan, or 3.
07%.
In the external market, LME aluminum accelerated its decline from a high of $2534.
5 to $2175 at the beginning of the March week, and then maintained a volatile operation at the bottom of the price, closing at $2259.
5 this week, down $229, or 9.
22%.
In terms of market, this week's spot market was affected by next month's VAT cut, coupled with a sharp decline in aluminum prices, trading remained active at the beginning of the week, market shipments increased, procurement demand also remained active, and trading began to weaken
in the middle of the week.
On Friday, the holders did not ship much, the market received the monthly ticket willingness is better, after the rise in aluminum prices in the later period, the market shipments have increased, but the following monthly pass resources are more, and the overall trading situation is general
.
In terms of industry,
According to the International Aluminium Association, global average daily production of primary aluminum reached a record high in March, with the average daily output of primary aluminum increasing from 71,800 tons to 72,000 tons
.
Production has increased sharply, domestic inventory pressure has increased, and aluminum prices have fallen
under pressure.
A senior executive of China's aluminum industry said that China, the world's number one aluminum consumer, will increase its aluminum consumption by 7-9%
this year and next.
The improvement of market demand has boosted investor confidence, and aluminum prices have rebounded
.
After the United States considered relaxing the sanctions against Rusal this week, aluminum prices fell sharply from a high level, and the market operation returned to the fundamental game, the overall domestic supply is still facing greater pressure, and aluminum prices are expected to maintain a pattern of external strength and internal weakness, and continue to pay attention to the progress of US-Russian relations in the
future.
Weekly K Shanghai aluminum index returned to the 5-week line operation; On the daily K, the Shanghai aluminum index returned to above the 60-day moving average, the short-term trend is weak, and the price is expected to be repeated
in the short term.
