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This week's aluminum price weak shock, Shanghai aluminum main force Friday opened at 13825 yuan / ton, the beginning of the session bears high to increase the pressure, aluminum prices fell, the low recorded 13700 yuan / ton, at this point, bears a little rest and wait, bulls slightly tested, aluminum prices rose back to 13740 yuan / ton a line of shock, the afternoon Shanghai aluminum main force once rose to 13785 yuan / ton, at the end of the session and then suppressed by bears, aluminum prices fell rapidly, low recorded 13685 yuan / ton, closed at 13695 yuan / ton
.
On the macro front, the dollar stopped falling and rebounded, putting pressure
on commodity trends.
However, the market will have to wait for further guidance as the U.
S.
House of Representatives canceled the vote on the
health care bill scheduled for Thursday local time.
At present, the Trump administration faces difficulties in obtaining enough votes, and if the vote fails, risk sentiment is expected to take a sharp turn.
Domestically, the tight capital situation has slowed down slightly, and the scale of the central bank's reverse repurchase has been greatly reduced, showing the central bank's confidence
in the current controllable capital surface.
In terms of the industry, the aluminum delivery revision plan announced in the last issue on Monday increased the delivery specifications of 25KG aluminum ingots, and electrolytic aluminum brands in Xinjiang, including Xinfa, Shenhuo, Tianshan, and Hope, are expected to achieve delivery within this year; China's total aluminum production fell to 2.
534 million mt in February from 2.
95 million mt in January, and global primary aluminium production excluding China fell to 1.
973 million mt
, data released by the International Aluminium Association (IAI) on Monday.
From the perspective of stocks, LME aluminum stocks decreased by 53,200 tons from last Thursday to 1.
955 million tons, and domestic aluminum social stocks decreased by 04,000 tons from last Thursday to 1.
139 million tons
.
LME aluminum spot discount of $10.
75, Friday domestic Shanghai aluminum ingot to the month discount of 150 yuan
.
LME aluminum inventories continued to decrease sharply, giving LME aluminum prices rebounding momentum, and the external aluminum prices continued to be stronger than the internal market; The increase in domestic aluminum inventories has been suspended, and inventories have fallen for the first time this week, but the spot discount has been maintained, and the improvement of the spot market is very limited
.
On the whole, aluminum prices have not been hot in the near future, and Shanghai aluminum has continued to fluctuate and finish, with the main range between 1.
35-14,000, and the phased external strength and internal weakness continue.
At present, the environmental protection group is about to enter the next round of inspection, the market is still worried about the impact on electrolytic aluminum production, and the inventory growth momentum has eased, slightly declined, and the operation is mainly wait-and-see for
the time being.
When the policy is not further clarified, the trend judgment is still
mainly bearish.
