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Yesterday's aluminum prices were mainly volatile, as of the close of 3 pm, the main 2302 contract of Shanghai aluminum rose to 18340, an increase of 0.
58%.
Aluminum prices remained high and volatile during the day, and the overall fluctuation range was limited; From the short-term trend, Shanghai aluminum is still under pressure below 18,500, and the performance of the rush is obviously weak
.
In terms of spot, the morning spot market trading improved, the downstream pre-holiday stockpile and traders' enthusiasm for receiving goods also increased, and the holders were slightly reluctant to sell
.
The mainstream trading price in the East China market is around 18110 yuan / ton, which is about 50 lower than the futures
.
The mainstream transaction price in Guangdong is around 18170 yuan / ton
.
On the supply side, the three rounds of production cuts in Guizhou affected a total of 800,000 tons of production capacity, while the new and resumed production capacity in Sichuan and other places has not released the increase in production for the time being, so the supply of electrolytic aluminum is in a short-term reduction trend
.
On the demand side, with the Spring Festival holiday approaching, most aluminum downstream processing enterprises have stopped work and holiday, and are expected to resume work and production
around the Lantern Festival.
On the whole, the recent rebound in aluminum prices has stimulated downstream replenishment sentiment to a certain extent, and affected by the tight power in the southwest region, the market is still worried about the supply side, and it is expected that electrolytic aluminum production will decline in January, and considering the recent macro improvement, it is recommended to treat it with the idea of bargain hunting in the short term
.
