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Last week, aluminum prices continued to be high, and the main force of Shanghai aluminum rose by 1.
14%; Lun aluminum rose 5.
7%; The game of big countries continued during the week, and the intensification of macro uncertainty once again triggered market worries, both internal and external markets showed a strong trend, combined with domestic fundamental support, aluminum prices in the future market may remain high and strong shocks
.
In terms of external trading, last week Lun aluminum showed a trend of rushing back down, intraday London aluminum prices rose as high as $3742, but in the second half of the week market sentiment fell aluminum prices also ushered in a correction, as of Friday, the cumulative increase reached 5.
7%.
The main reason for the rise in London aluminum last week is still from the chain reaction brought about by the Russian-Ukrainian conflict; During the week, the Australian government officially announced a ban on the export of Rusal alumina and bauxite, which is also the world's first official sanctions involving Rusal at the national level, and Putin is not to be outdone, and also responded, requiring some countries to purchase natural gas in rubles; Under the influence of multiple news, European energy prices soared again, driving concerns about the lack of aluminum supply, and Lun aluminum returned to a high level
.
In terms of the market, the shipholders have stable shipments, but the epidemic in many places has an impact on downstream consumption, the market transaction is limited, and merchants are more looking forward to the peak season in April
.
East China: The conflict between Russia and Ukraine intensified, the market is worried about the European energy crisis again, aluminum prices fell into a high shock adjustment during the week, the overall center of gravity has shifted, as of Friday, East China spot aluminum prices in 22970-23010 yuan / ton, up 470 yuan / ton, the current spot discount of 80
.
South China: As of Friday, the price of Foshan Nanhai aluminum ingot ticket is between 23230-23330 yuan / ton, up 340 yuan / ton from the previous month, the increase is slightly inferior to East China, South China market demand has gradually recovered, downstream enterprises just need to receive goods, the transaction is better than last week
.
In the future, due to the continuation of the game between major countries during the week, and the sanctions have directly involved Rusal production and supply side, coupled with the disturbance of European energy prices to aluminum supply, there is still a certain risk
of lack of aluminum supply in overseas markets.
Domestically, under the epidemic, the arrival of goods in various markets is limited, and there are many stockpiling phenomena downstream, and the epidemic has not blocked the actual demand, and the social inventory still maintains decomposition, combined with the expectation of the peak season in the future, aluminum prices will remain high in the future
.
