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After the holiday, aluminum prices soared repeatedly, hitting a new high
since 2009.
Last week's weekly highest rose to 19945, narrowly breaking the 20,000 mark, and by the close, the main force closed at 19855, a cumulative increase of 4.
56%.
Affected by the May Day holiday, the destocking of domestic inventories slowed down during the week, but the overall destocking rhythm is still there, and the fundamentals are still good
.
Domestic and foreign demand is in the peak season, and the trend of supply and demand may be maintained; Coupled with the loose macro liquidity, short-term aluminum prices may continue to rise, and 20,000 is close at hand
.
Similarly, Lun Aluminum also broke its position, hitting a new high
since May 2018.
The highest intraday gain was 2550, a cumulative increase of 4.
61% from last week, the biggest gain in recent months
.
During the week, China-Australia relations gradually became tense, the market's expectations for future bauxite and alumina imports have shrunk, and aluminum prices have gradually risen
.
In addition, the current macro liquidity is still strong, inflation expectations still exist, and Lun Aluminum may maintain its rally
.
Domestic electrolytic aluminum operating capacity maintained an increasing trend, but affected by the production restrictions in Inner Mongolia from March to April, the actual operating capacity scale was still suppressed before the start of new and resumed production capacity, and this situation is expected to be alleviated
from late May to June.
The market for aluminum profiles, aluminum strips, aluminum foils and casting alloys is still in the peak demand season of the year, although some sectors are slowed down by the pressure of aluminum prices, but the overall market demand is still 8.
9% year-on-year growth compared
with the same period last year.
In May, the trend of aluminum supply and demand may be maintained, coupled with macro liquidity easing, short-term aluminum prices may
continue to rise.
However, the current soaring aluminum price also has high risks, and holders can ship at high prices, and replenish a small amount of goods downstream on demand; Prices are expected to continue to rise
.
