The overall trend of aluminum prices is still strong, and the long-term bullish thinking remains unchanged

Last week, Lun aluminum showed a high downward trend, and recovered slightly at the end of the session, falling to around 2510 at an intraday low, and as of Friday, the cumulative decline reached about 2.
0%; Affected by the news of the Fed's meeting to spread the expected tapering of QE in the middle of the week, the market risk aversion gradually rose, in addition, the continued spread of the global epidemic and the strengthening of the US dollar also curbed the upward trend of aluminum prices; However, as the bearish news is gradually digested, the price of aluminum in the external market has also picked up in recent days, and the short-term aluminum is expected to maintain a high level of strong shock operation, and there is still a possibility of standing above 2600, focusing on the range of 2550-2650
.

In terms of the market, the market fluctuated more sharply, traders operated more frequently, downstream companies took advantage of the dip and stocked on demand, and the trading volume improved on Friday
.
East China: supply-side production cuts, production restrictions news continues, the aluminum price support is obvious, but the dumping and policy regulation suppress market confidence, aluminum prices rise is difficult to continue, weekly volatility increased, East China spot aluminum prices once approached the 20,000 mark, as of Friday, the price was between 20080-20120 yuan / ton, up 50 yuan / ton from last Friday, spot from discount to a slight premium of 40
.

South China: As of Friday, the price of Foshan Nanhai aluminum ingot tickets was between 20,510-20,610 yuan / ton, up 130 yuan / ton from last Friday, performing better than East China; The market supply is relatively abundant, the price is maintained at a high level as a whole, and downstream enterprises just need to stock up on goods, and the transaction is general
.

In the new round of Fed meetings during the week, most officials proposed that the follow-up or will gradually reduce QE expectations, causing market panic, coupled with the multi-party disturbance of the global epidemic, the macro turbulence pattern has reappeared, aluminum prices have come under pressure and pullback, in addition, due to the slowdown in the destocking range in China, the basic price support has also weakened; However, on the whole, the long-term impact of power and production restrictions on the supply side is still large, and the production capacity is seriously limited during the year, and the long-term bullish idea of aluminum prices remains unchanged
.
In the short term, with the stability of market sentiment and optimism about peak season consumption expectations, the main force of Shanghai aluminum or once again stands above 20,000, and the overall trend is still strong
.