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After last week's wave of decline, today's Shanghai aluminum decline slowed down, in the afternoon slightly rebounded, as of the close of three o'clock, Shanghai aluminum main 2004 contract closed up 0.
11% to 13255, from the trend point of view, short-term market or repair, Shanghai aluminum material to stop falling and stabilize, but epidemic worries still exist, and the fundamentals are not good, the medium-term trend is still weak, temporarily pay attention to the 13100-13500 range shock
.
Operationally it can be bought in batches; It is expected that tomorrow's spot aluminum prices will rise steadily
.
In the external market, the spread of the overseas epidemic threatened global economic growth and commodity demand, and overnight Lun aluminum came under pressure and fell to a three-year low, and the latest closing quotation was $1691 / ton, down $11
.
In terms of inventory, the London Metal Exchange (LME) reported 1092275 metric tons of London aluminum on February 27, down 11,300 metric tons, or 1.
02%, from the previous trading day, and fell 11.
90%
in the last 12 trading days.
In terms of the market, on February 27, the domestic spot aluminum price fell slightly, and the spot AOO aluminum ingot price of Yangtze River Nonferrous Metal Network was reported at 13380 yuan / ton, down 50 yuan; The price of Chinalco East China AOO aluminum ingots was 13410 yuan / ton, down 50 yuan
.
Rusal said that the epidemic is expected to lead to low aluminum demand in China in the first half of the year, and the oversupply is expected to increase; Domestic aluminum ingot social inventory continues to accumulate, downstream consumption recovery is delayed, supply side is relatively excessive, spot aluminum prices are expected to fall
slightly today.
Intraday domestic futures market commodities collective rebound, Shanghai aluminum followed a slight recovery rebound slightly weak, spot continued to decline, downstream consumption recovery is sluggish, supply side relative excess, it is expected that tomorrow's aluminum price is expected to be sideways, slightly weak, for reference
only.
