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Last week, aluminum prices fluctuated and fell, with the main force of Shanghai aluminum falling by 0.
56%, and Lun aluminum falling by 3.
5%; The Fed gradually raised interest rates during the week, as expected, the market quickly returned to stability, and the sentiment boosted aluminum prices to recover, but poor consumption in the peak season led to insufficient price support, Shanghai aluminum upward pressure, still need to be vigilant against the risk of future market decline, pay attention to the range of 1.
82-18,800 range fluctuations, London aluminum 2180-2300 US dollars
.
In terms of the market, the main trading range of spot aluminum in Shanghai Nonferrous Metals Trading Center (SME) last week was 18530-18790 yuan / ton
.
The premium range is C70-C10 yuan/ton
.
Spot prices fluctuated last week, and prices improved near the low market, but the overall transaction during the week was still average
.
At the beginning of the week, market trading was relatively cold, and after the interest rate hike landed, the sentiment of downstream enterprises entering the market to receive goods improved, driving market transactions
.
East China: Due to the impact of the Fed's interest rate meeting at the beginning of the week, the market was cautious and wait-and-see sentiment was heavier, and aluminum prices showed a certain recovery as the Fed raised interest rates by 75 basis points as scheduled; Overall, East China spot aluminum fell first and then rose; As of Friday, the price was 18690-18730 yuan / ton, down 160 yuan / ton from last Friday, and the spot discount was 50 yuan
.
South China: As of Friday, the price of Foshan Nanhai aluminum ingots with tickets was between 18940-19040 yuan / ton, down 170 yuan / ton from the previous month, and the current price difference between East China and South China aluminum ingots was 280 yuan / ton; The demand of downstream enterprises has steadily rebounded, and the demand for electrolytic aluminum has increased slightly, and the transaction is
acceptable.
Last week, suppressed by the Fed's expectation of interest rate hikes, while Yunnan's production scale has not been further expanded, facing greater uncertainty, the aluminum market has returned to weak operation, the current market sentiment has weakened, and Lun aluminum has broken
downward.
Last week, the aluminum social library was slightly dematerialized, paying attention to the follow-up production reduction progress
.
With the landing of the results of the Fed meeting, the market has been repaired and temporarily stopped falling, but Powell's hawkish remarks have helped the dollar to continue to rise, rising to a 20-year high, so the trend of Shanghai aluminum has also been suppressed, and the plate ushered in a temporary rebound, but the late aluminum consumption is not good, the peak season is not strong, the fundamentals have not improved, it is expected that next week's plate may have the risk of falling, or in the range of 1.
82-18,800 oscillations
.
