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Trade Service
Last week, Shanghai aluminum fluctuated
at a high level.
Aluminum ingot inventories rebounded slightly, but aluminum rod inventories continued to decline, the market transaction was neutral, and spot stocks were slightly
discounted.
There are no further details on the dumping of the national reserves, and it is expected to basically offset
the impact of the production cuts in Inner Mongolia.
At present, the downstream manufacturers generally have sufficient orders, and the peak season consumption is optimistic, and the subsequent destocking will revise the expectations
.
For the time being, it is treated with 10,000 to 10,000 shocks, and maintains the idea of pullback buying long positions
.
On the macro front, under the background of global monetary easing and gradual economic recovery, the overall price of bulk industrial products has gradually risen
.
Local events such as the escalation of Sino-US conflicts and the recurrence of epidemics in Europe and the United States have had an impact on the short-term risk appetite of the market, increasing the complexity of
commodity price trends.
From a fundamental point of view, Hulun aluminum inventory is generally normal, downstream demand continues to improve, and the situation of supply and demand continues
.
As of the close of 3 p.
m.
, the main 2105 contract of Shanghai aluminum closed up at 17515, up 40, or 0.
23%.
From the current plate point of view, Shanghai aluminum many attempts to break through the 17600 mark unsuccessful, and the rise gradually slowed down, it is not difficult to see that aluminum prices may be difficult to continue to rise, but in the short term, downstream consumption enthusiasm or to a certain extent to support aluminum prices to maintain a high level of operation, the main force continues to pay attention to the fluctuation of 1.
73-17,600 range, it is recommended to cautiously chase up, the operation of the holder can be high and appropriate shipments, it is expected that tomorrow's spot aluminum shock is stable
.
