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This week's aluminum price high pullback, Shanghai aluminum broke through the 20,000 mark during the week, the highest rose to 20445, reaching a new high in recent years, as of Friday's close, the main force closed at 19315, a cumulative decline of 2.
72%; In the short term, under the weakening of macro sentiment, aluminum prices do not rule out the possibility of continued pullback, but comprehensive domestic fundamentals, destocking logic is still superimposed on the improvement of downstream orders, in the medium and long term, aluminum prices still have the possibility of rising again, Shanghai aluminum main force temporarily pay attention to 19,000 supports
.
This week, Lun aluminum rushed back down, intraday aluminum prices once rose above the 2600 mark, but with the decline in market sentiment and the departure of long funds, aluminum prices fell sharply in the second half of the week, and as of the close, the cumulative decline of nearly 3.
8% compared with last week; In the short term, the excessive soaring aluminum price in the early stage does have some room for adjustment, but under the continuation of the easing policy and inflation expectations have not been fully controlled, the downward space of Lun aluminum is limited, and you can pay attention to the 2400-2520 range for the time being
.
In terms of the market, the market is abundant, although it is currently in the peak consumption season, but due to the sharp rise in prices, the spot price has exceeded the 20,000 mark, downstream enterprises are afraid of heights, relatively cautious in entering the market, and the overall transaction of the market is limited
.
East China, after the early sharp rise in the market, coupled with the State Council executive meeting proposed to do a good job in market adjustment, in response to the rapid rise in commodity prices and its associated impact, market sentiment was affected, this week aluminum prices adjusted, intraday volatility is more violent, failed to stand firm 20,000 mark, as of Friday, East China spot aluminum prices between 19640-19680 yuan / ton, down 30 yuan / ton
from last Friday.
South China, as of Friday, Foshan Nanhai aluminum ingot ticket price between 19920-20020 yuan / ton, down 40 yuan / ton from last Friday, at the beginning of the week because the price is too high, downstream processing enterprises wait and see, as the price has fallen, downstream enthusiasm for entering the market has improved, but considering the unstable market, more just need to prepare goods, the transaction is general
.
This week, aluminum prices showed a trend of rushing back down, with London aluminum falling by 3.
8% and Shanghai aluminum falling by 2.
72%; In the short term, Shanghai aluminum does not rule out the possibility of continuing to fall, but the overall decline space is limited under the support of destocking, and the main focus of Shanghai aluminum is in the range of 1.
88-19,800, and Lun aluminum focuses on the 2400-2520 range
.
