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Dragged down by the plunge in crude oil prices last week, aluminum prices first fell and then rose, showing an overall volatile trend
.
Fundamentals, downstream initiative to replenish inventory and some companies to increase the inventory cycle, continue to set the spot market atmosphere
.
Behind the active hoarding is actually an overdraft of future demand, the end of the hoarding often means that the price promotion effect is reduced, and the price increase will also weaken the smelter production reduction expectations, some companies have recently re-ignited news
.
Aluminum downstream demand, especially orders for construction profiles, continued to be hot, promoting the rapid destocking of aluminum ingots, with a weekly decrease of 136,000 tons
.
At present, the market liquidity is abundant, the willingness of funds to do more is strong, coupled with the low willingness of aluminum plants to ship, the short-term upward momentum of aluminum prices remains
.
In addition, Yunnan and Gansu have successively issued news on the storage and storage of non-ferrous metals, which has a more impact
on aluminum in the short term.
Pay attention to the aluminum ingot inventory data, strategically, due to the upcoming holiday, the bulls can take a profit and exit the market
.
The price increase is still regarded as a repairive rebound, and the V-shaped reversal of aluminum prices in the absence of a "big stimulus" in China and the inflection point of the international epidemic is unlikely
.
