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Last week, macro sentiment eased, and aluminum prices stopped falling and rebounded
.
The main contract of Shanghai aluminum closed at 17,995 yuan / ton (as of 3 pm on Friday), up 0.
28%.
From a fundamental point of view, in the short term, under the influence of low aluminum prices, the bottom does show support, mainly because the growth rate of supply or the impact of losses has slowed down, while downstream buying and demand have been stimulated to a certain extent
.
At the same time, the high prosperity of automobiles from the terminal and the higher investment completion of the power grid in June will make demand rebound
in the third quarter.
In the short term, macro sentiment has been repaired compared with the extreme pessimism in the previous period, although the European Central Bank raised interest rates by 50BP more than expected, and the domestic policy side stood still in July, without further positive signals, but the focus of market attention is still on the Fed's
interest rate hike.
The improvement of the macro environment is the main reason for aluminum prices and even non-ferrous to stop falling, and the rebound height will be determined by the fundamental strength of the variety itself
.
