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Last week, aluminum prices fluctuated upward, with London aluminum rising by more than 3.
1% and Shanghai aluminum rising by 2.
8%; Under the support of the gradual stabilization of domestic fundamentals, aluminum prices may continue to fluctuate at a high level next week, but whether it can break through and stand firm at the 16,000 mark still needs to pay attention to follow-up inventories and spot premium changes; Shanghai aluminum mainly focuses on 1.
55-16,200 range shocks, and Lun aluminum focuses on 1960-2040 US dollars
.
In the external market, Lun Aluminum rose again, with a cumulative weekly increase of more than 3.
1%; After Biden's victory, the market has strong expectations for the follow-up favorable policies in the United States, and the aluminum price in the week continued to rise after standing at the $1900 mark, once breaking through the $2000 mark during the session, but failed to stand firmly, in the short term in the context of the bright performance of global manufacturing data, the macro overall is still positive for aluminum prices, Lun aluminum or continue to run at a high level, focusing on the fluctuations of the 1960-2040 range; Follow-up recommendations continue to pay attention to changes in market demand and macro policy guidance
.
In terms of the market, after the change of month, the holder firm the selling price, the spot turned to a high premium, the enthusiasm of traders to enter the market is acceptable, the future market is bullish, the price continues to hit a new high since 2018, downstream enterprises are afraid of heights, the receipt of goods is relatively cautious, and the overall market transaction is average
.
East China: the market is expected to be good, the national electrolytic aluminum inventory continues to decline or downstream consumption still has not weakened, spot slightly tightened to boost, aluminum prices remain strong, continued to rise during the week, East China spot aluminum gradually tested to the 16,000 mark, as of Friday, the price was between 15910-15950 yuan / ton, up 300 yuan / ton
from the previous week.
South China: As of Friday, the price of Foshan Nanhai aluminum ingot tickets was between 16180-16280 yuan / ton, up 320 yuan / ton from the previous week; Traders are more cautious in entering the market, and downstream enterprises do not have much stock, and most just need to buy
.
Domestic fundamentals still maintain stable operation during the week, terminal demand is still performing well, at present, the relative balance of supply and demand may be difficult to improve, but with the recent rise in spot prices, aluminum company profits climbed under the subsequent investment in production capacity or accelerated release, short-term in the spot premium and low inventory support aluminum prices or still high range volatility, follow-up recommendations pay close attention to the social inventory changes on the guiding role of aluminum prices, if the accumulation phenomenon reappears, the aluminum price or small fluctuations, but the overall is still strong, Shanghai aluminum can continue to pay attention to the 16,000 pressure level above the main force, and it is expected that spot aluminum shock is strong
.
