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Last week, aluminum prices first rose and then fell, and Lun Shanghai aluminum fell for 4 consecutive days, and Lun aluminum fell by about 1.
65%; Shanghai aluminum main weekly decline of 1.
45%; The seasonal off-season of the market appeared, the short-term demand side may not improve significantly, and the downward trend of domestic inventories slowed down, making bulls less confident, but the spot is slightly firm, and it is expected that the probability of aluminum price volatility will be stable
next week.
After a period of rising market, Lun aluminum once exceeded $1700, the highest climbed to $1705, but lack of substantial positive boost, and macro risk aversion heated up, last week Lun aluminum fell for four consecutive days, intraday volatility around $1660, weekly cumulative decline of about 1.
65%; The market wait-and-see attitude is strong, lack of favorable boost, short-term aluminum prices may fluctuate at a high level, next week focus on the volatility around $1650-1680; The future market is wary of the US epidemic, and there is great uncertainty
in the policy after reaching a new high.
East China: At the beginning of the week due to manufacturers controlling prices and other reasons, aluminum ingots soared more than 600 yuan, market activity was ignited, but with the delivery of the month, near month and far month price difference, spot aluminum prices declined, last week's overall performance first rose and then fell, as of Friday, East China spot aluminum ingot prices in 14350-14390 yuan / ton, down 330 yuan
from last Friday.
In terms of market transactions, the market supply last week was slightly less tense than last week, the market fluctuated sharply, the trade market trading was more active, and there were large manufacturers in purchasing, driving market transactions
.
In South China, as of Friday, the price of Foshan Nanhai aluminum ingot with tickets was between 14560-14660 yuan / ton, down 310 yuan / ton
from last Friday.
In terms of market transactions, the market is unstable, aluminum prices fluctuate more sharply, downstream enterprises are significantly less motivated to enter the market, more wait-and-see, coupled with the reduction of off-season orders, downstream receiving is not enough to drag down market transactions
.
Last week, Shanghai aluminum first rose and then fell, the early aluminum price high running, on the one hand driven by macro and capital, on the other hand, the price of aluminum rose sharply to support the domestic aluminum price long sentiment
.
The main force of Shanghai aluminum broke through 14500, and the highest climbed to 14555; The Shanghai aluminum contract in the month once exceeded 15,000 under the strong support of spot; From the trend point of view, back to fundamentals, market seasonal off-season signs appeared, downstream orders were slightly insufficient, and high prices promoted the accelerated restart of aluminum plant capacity, short-term demand side or no significant improvement
.
In addition, although the domestic aluminum ingot social inventory still maintains a downward trend, the decline has slowed down significantly, making the bulls confidence insufficient, short-term long-short game, aluminum prices into a shock pattern, next week the probability of the shock is relatively large, the operation is temporarily wait-and-see, or a small amount of replenishment
on demand.
