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This week, the bottom of the Shanghai aluminum index ran in a narrow range, and after a slight weakening of 14205 yuan at the beginning of the week, the price fluctuated slightly upward, and fell back after touching 14535 yuan on Friday
.
The week closed at 14,400 yuan, down 10 yuan, or 0.
07%.
Index holdings increased by 34 lots to 788,000
.
In terms of external trading, the LME aluminum bottom in March fluctuated operation, the price rushed up to $2169.
5 at the beginning of the week and then retreated, and once fluctuated widely in the middle of the week, and finally fell to a low of $2118, a weekly decline of 0.
33%.
In terms of the market, the performance of aluminum is tepid, and the circulation of the market is slightly abundant, but the downstream receiving performance is still not ideal, there is a certain wait-and-see mentality, and the trading performance is average
.
This week, the spot market basically resumed normal trading, trading is mostly traders arbitrage hedging, market shipments are generally not much
, resulting in general trading conditions, the end of the week has improved.
After the fall in aluminum prices on Friday morning, the quotation was slightly chaotic, but the overall price of the holders was strong, the market shipment situation was better, the willingness of large households to receive goods was better but there was no sign of sweeping, and the overall trading situation was slightly active
.
In terms of news, after US President Trump announced on Thursday that he would impose high tariffs on imported steel and aluminum, U.
S.
aluminum premium climbed sharply to the highest level in nearly three years, as U.
S.
aluminum consumers rushed to lock in more supply, while showing strong physical aluminum demand in the U.
S.
market
.
However, domestic demand recovery is slow, domestic aluminum market inventory is high, supply and demand have not improved, aluminum prices have fallen into range shock, the future with the first quarter of new production capacity landing, aluminum market may face the risk
of pullback.
At present, the performance of Shanghai aluminum is relatively weak at a high level, and it has failed to hit the 14,500 yuan line
.
Although the current market is optimistic about the performance of Shanghai aluminum in the peak season, investors are still cautious
about the current Shanghai aluminum in the absence of a significant recovery in demand.
Shanghai aluminum still needs to pay attention to the recovery of demand in March, as well as the specific performance
of the news side.
