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As of the close of 3 p.
m.
on Thursday, the main contract of Shanghai aluminum closed up at 12660, up 75, or 0.
60%; Domestic aluminum ingots continued to go to storage rapidly, with a weekly decline of 136,000 tons, and Yunnan Gansu storage and other favorable results, promoting the continuous rise in aluminum prices in recent days; in the short term, aluminum prices still maintain strong shocks, in the absence of domestic "big stimulus" and the international epidemic has not appeared in the inflection point, the possibility of V-shaped reversal is unlikely, it is recommended to cautiously chase up
.
Industry News:
1.
Jia Xingxing, vice president and secretary general of the Nonferrous Metals Industry Association, said that the price of aluminum fell sharply in the early stage, and dealers rushed to buy, resulting in a very tight aluminum on the market, and many enterprises of aluminum processing plant orders were full, in addition, the fluctuation of primary aluminum prices led to many small aluminum processing enterprises have stopped production, prompting the overall processing fee to skyrocket.
2.
In order to accelerate the implementation of the integrated development strategy of hydropower, electricity and aluminum and further enhance industrial competitiveness, Yunnan Aluminum needs to purchase electrolytic aluminum production capacity indicators
.
To this end, the company intends to participate in the judicial auction of 135,000 tons of electrolytic aluminum production capacity indicators organized by the Linyi Intermediate People's Court of Shandong Province, according to the judicial auction announcement, the evaluation reference price of this auction object is 84,164,81391 yuan, that is, the evaluation reference price per ton of electrolytic aluminum production capacity index is 6,234 yuan / ton, and the starting price of one auction is 84,164.
81391 million yuan
.
At present, the first auction of the judicial auction has been lost, and the second auction of the judicial auction is underway, and the company will refer to the recent market transaction price of electrolytic aluminum production capacity indicators to participate in this auction
at a fair market price.
Fundamental changes: 1) Alumina has limited upward momentum, and prices are expected to remain bottom-oscillating; 2) The profits of the electrolytic aluminum industry were repaired to near the break-even line, and the momentum of enterprises to reduce production was weakened; 3) There is some hoarding before the holiday, but it is only a short-term phenomenon
.
Price operation logic: multiple factors such as seasonal warming of demand and alternative consumption of scrap aluminum have driven a large destocking, while collecting and storing information to stimulate the strong operation
of the plate.
However, the expectation of aluminum prices should not be overly optimistic, profit repair suppresses the willingness to reduce production, aluminum ingots have a potential import impact under the high value of Shanghai, the negative impact of external demand may gradually appear in the late second quarter, the long-term fundamentals of aluminum have not changed, and the upside of aluminum prices is limited
.
On the last day, Shanghai aluminum rushed to the 60-day moving average and then fell, it is recommended that bulls close their positions before the holiday to prevent and control risks, and the hot spot market after the holiday may be difficult to maintain, and the risk of aluminum prices falling is greater
.
