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Last week, aluminum prices showed a trend of first declining and then rising, with the main force of Shanghai aluminum falling by 0.
57%, and Lun aluminum falling by 0.
4%; Overseas aluminum inventories showed a continuous downward trend during the week, driving spot premiums higher; In addition, the news of a sharp reduction in production of aluminum plants in China has been reported in recent days, which has formed a certain favorable promotion for aluminum prices, and it is expected that Shanghai aluminum will rebound sharply in the short term, which can pay attention to the range of 1.
88-19,500 ranges, and the market still needs to be vigilant against the risk
of peaking and falling.
Last week, Lun aluminum bottomed out and rebounded, and there was a trend of pulling up at the end of the session, falling as low as 2560 during the session, and as of Friday, the cumulative decline was about 0.
2%; At present, global inflationary pressure is gradually emerging, the Biden administration is also actively seeking measures to release pressure, and on the whole, the market still has certain expectations for interest rate hikes in advance; However, as overseas inventories continue to decrease, the spot of non-ferrous metals such as copper and aluminum has risen, raising prices to a certain extent, and it is expected that there will be a certain rebound in the recent Lun aluminum market, focusing on the shock range of 2650-2750
.
In terms of the market, prices continue to fall, coupled with weak demand, downstream enterprises wait and see, a small number of enterprises have a moderate amount of replenishment phenomenon, limited transactions
.
East China: The US dollar continues to strengthen, domestic real estate data has declined significantly from the same period, downstream demand is weak, electrolytic aluminum inventory in the mainstream of the country exceeds 1 million tons, market sentiment is pessimistic, last week's aluminum price a few days ago the center of gravity continued to shift, Friday because of the news of Yunnan aluminum plant shutdown, the price was raised, as of Friday, East China spot aluminum prices between 18510-18550 yuan / ton, down 900 yuan / ton
from last Friday.
South China: As of Friday, the price of Foshan Nanhai aluminum ingot tickets was between 19030-19130 yuan / ton, down 600 yuan / ton
from last Friday.
The South China market is still in a state of oversupply, the market continues to be weak, traders' enthusiasm to enter the market has also decreased, and the downstream bargain is mainly purchased, and the transaction shows an off-season effect
.
Last week, Shanghai aluminum bottomed out again, the main force of Shanghai aluminum once fell to 18230, as of Friday's close at three o'clock, the main 2201 contract closed at 19205, a weekly cumulative decline of 0.
57%; Recently, affected by the high rise of overseas spot premiums and the news of domestic aluminum plant production cuts, aluminum prices have rebounded sharply, once again standing above 19,000, short-term in the double favorable promotion, Shanghai aluminum or continue the rebound trend, pay attention to 19,000 standing firm.
In the long run, aluminum prices still have the risk of two-way fluctuations, the fundamental weakening pattern remains unchanged, coupled with the continuous reduction of alumina prices, the cost side has also collapsed, and it is still necessary to be vigilant against the risk
of aluminum prices falling back in the future.
