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On Wednesday evening, most of the international commodity markets rose, Lun aluminum futures touched the 2,000 mark, continuing to hit a two-year high, closing at 1990 US dollars / ton, up 0.
40%, domestic copper and aluminum futures both rose overnight, Shanghai aluminum futures Al 2012 reported 15875 yuan / ton, up 1.
83%.
At the macro level, the new crown vaccine has made significant progress, the global economic outlook may undergo a major improvement, and the macro market sentiment tends to be optimistic
due to the performance of some macro data.
In terms of supply, the price of alumina at the cost end continues to be low, the price of aluminum continues to rise, the profit margin of aluminum enterprises continues to increase, production capacity continues to be released, and the supply pressure of electrolytic aluminum is not reduced
.
In terms of demand, entering November, the consumption side has not weakened rapidly, the current aluminum ingot social inventory is in a state of continuous decline, and the inventory base hit a new low in the year, coupled with the current increase in orders for automobiles and home appliances and other industries, consumption basically tends to be stable, the current performance is not light
in the off-season.
In general, under the background of the current low inventory of aluminum ingot social inventory, there is a risk of soft squeeze in the near-month contract, in the short term, aluminum prices will still run strongly, pay attention to today's inventory data, short-term guidance on aluminum prices, strategically, wait and see
for the time being.
