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This week, the main force of Shanghai aluminum opened on the 3rd, and the trend first fell and then rose
.
At the beginning of the week, the opening was affected by the fall of the holiday external market, opened low at 13930 yuan, and fell to 13880 yuan, but under the expectation of a new high in the external market and the domestic Xiongan construction stimulated demand, the day rose sharply, and the price was under pressure after the overnight high opened at 14270 yuan, and then the long and short glued, the black line closed long the lower shadow, the price fell for two consecutive days, and the internal market on Friday once panicked but the aluminum market was relatively resistant
.
As of the deadline, it closed at 14,005 yuan, up 10 yuan this week, or 0.
07%, and the position fell by 15,598 lots to 253,000 lots
.
This week, the LME March aluminum period fluctuated
highs.
The opening at $1965 at the beginning of the week, in the absence of internal trading, the market briefly pulled back to a low of $1936, and on Wednesday Lun aluminum changed its decline, once rose sharply to $1980 before impacting, but in the evening by the Fed's discussion of balance sheet reduction, the rise fell, and the end of the week also continued a weaker trend, closing the doji line
on Friday afternoon.
Closing at $1950.
5 as of writing, it is down $10 for the week, or -0.
51%
for the week.
Market: After returning from the Qingming Festival holiday, aluminum prices jumped, resulting in aluminum spot prices approaching 14,000 yuan / ton, so that buyers continue to remain wait-and-see-based, and holders at the beginning of the quarter have more funds on hand, the market supply is still more, holding goods continue to ship vigorously, but there are few price cuts to make profits, and the replenishment market after the Qingming Festival has not been triggered
because of the jump in aluminum prices.
Today's Friday market is still dominated by on-demand procurement, and the market trading situation is not good
.
Inventory: As of April 3, the social inventory of the aluminum market increased to 1.
179 million tons again, an increase of 25,000 tons over the pre-holiday period, and the social inventory of electrolytic aluminum once again put pressure
on the rebound of the aluminum market.
At the beginning of this week, in the case of crude oil rise, Xiong'an New Area and environmental protection speculation, the aluminum market once rose to 14,300 yuan, but due to the pressure of inventory, the rebound once failed
.
At present, the peak season is coming, but the demand has not been effectively released, especially in the context of strengthening real estate regulation and control in various regions, it is difficult for the aluminum market to form a breakthrough
.
At present, the trend of London aluminum is relatively strong, mainly because the LME continues to decline and reaches a historical low
.
In the short term, Shanghai aluminum may be dominated by range fluctuations of 13700-14200 yuan, and it is expected that the spot price will fall
slightly next week.
