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Recently, Shanghai aluminum has been led by fundamentals, paying attention to the fermentation of repeated pledge news of fundamental warehouse receipts, or forming a negative
impact on the market.
The epidemic affected peripheral energy and high inflation, and the Fed was expected to continue to raise interest rates, and global commodities were under pressure
.
Overnight financial market sentiment remained pessimistic, aluminum prices, especially LME aluminum prices continued to fall, once fell below the $2,500 mark, Shanghai aluminum index last night intraday once fell to 19,450 yuan / ton, positions once increased by 23,700 lots, a sharp increase in positions downward, but the daily market by the rapid inventory and the impact of the bulk rebound, Shanghai aluminum rebounded, and finally the Shanghai aluminum index fell 275 yuan / ton to close down 1.
37% to 19785 yuan / ton
.
In terms of spot, Wuxi performed generally on Friday, sales in South China were not smooth, premiums fell rapidly, and premiums rose sharply in the Central Plains, but the market response was general, and the spot market performance was average
.
The pessimistic atmosphere of industrial products dragged down the trend of aluminum prices, the post-epidemic consumption recovery was less than expected, and the growing pressure of supply and production made the price center of gravity shift downward, although inventories continued to decline, but the market circulation was abundant, coupled with downstream enterprises on-demand procurement, and overseas pessimism was stronger, continuing to suppress aluminum prices, and aluminum or falling
.
During the week, the global "central bank super week" hit, the problem of high inflation may be difficult to effectively curb in the short term, macro bearish, this week Shanghai aluminum showed a high downward trend, the weekly decline was 3.
88%; Next week, there is still a wave of low rebound opportunities in Shanghai aluminum, but the general trend will remain weak, the rebound height is limited, and the range of attention is 19500-20200
.
