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Last week's aluminum price fell from a high level, with the main force of Shanghai aluminum falling by 2.
48%, and Lun aluminum rising by 1.
2%; During the week, due to the LME ban on Russian metal discussion approaching the deadline, the market speculation atmosphere is stronger, but also led to the external strength and internal weakness trend is more obvious, Shanghai aluminum despite the early performance of the decline, but after the capital left the market to return to the weak fundamentals, the short-term still need to be vigilant against the risk of falling again, but considering the support of the cost side, aluminum prices in the short term or out of the bottoming up trend
.
In terms of the market, due to the disruption of transportation due to the epidemic in many places, freight rates have increased, and downstream demand is not as good as the same period of previous years, and market transactions have weakened
.
East China: Macro news is still unstable, LME on Russian metal sanctions or not to discuss more and more intense, and the domestic side has no actual favorable appearance, coupled with the frequent epidemic in many places, poor market demand, aluminum prices in the week downward trend, as of Friday, East China spot aluminum prices between 18280-18320 yuan / ton, down 360 yuan / ton, the current spot discount of 30 yuan
.
South China: As of Friday, the price of Foshan Nanhai aluminum ingot ticket is between 18690-18790 yuan / ton, down 320 yuan / ton from the previous month, and the price of aluminum ingots in South China in the past two weeks is better than that in East China in terms of both rising and resisting declines, and the current price difference between the two places has widened to 440 yuan / ton; The overall trading performance of the South China spot market during the week compared with the previous week picked up, the operating rate of downstream profile companies rebounded, and demand followed the rise, but the spot fell sharply on Friday, and the company remained on the sidelines, and the desire to purchase was not good
.
In terms of macro, the strong dollar fell at the beginning of the week, the metal sector was running strongly, the external trend was significantly better than the domestic, the domestic aluminum market supply and demand were weak, the cost stock showed signs of weakness, the bulls rushed high and lacked, did not follow the external rally, and fell sharply at the end of the week driven by the pessimistic atmosphere of the market
.
At present, the peripheral aluminum market is facing greater uncertainty, and continue to pay attention to the news
related to the sanctions imposed on Rusal in Europe and the United States.
