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This week, aluminum prices in the two places have risen, and Lun aluminum has risen continuously, ending from Monday to Thursday "four consecutive yang", of which Wednesday rose the most by 2.
46%, and also broke through the $1600 resistance
.
The current round of aluminum price rise is mainly driven by the following factors: First, last year's domestic and international aluminum enterprises production reduction effect gradually appeared, LME inventory has been declining this year, Shanghai inventory began in late March also fell for the next week, supply pressure reduction is the fundamental factor
of aluminum price rise.
Secondly, China's first-quarter economic data released last week was better, boosting market confidence in China's economy, and the stronger domestic aluminum price also drove Lun aluminum to a certain extent; In addition, another surge in oil prices this week has pushed base metals stronger
.
In the short term, aluminum prices or "crazy" handful, Lun aluminum or can touch $1700, but as we have been emphasizing before, the huge excess capacity still exists, but the cost of opening it is higher, it is not cost-effective, but if the aluminum price is maintained at more than $1600 for a long time, the capacity of resumption of production is expected to gradually increase, not optimistic about the medium-term trend
of aluminum prices.
