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As of the close of 3 pm today, the main 2109 contract of Shanghai aluminum closed up in 20085, up 515, or 2.
63%; At present, the market is still showing signs of the off-season, inventories are further degraded, and the inflection point is still coming, forming a strong support
for prices.
Due to bad weather and the epidemic, transportation in Henan and Jiangsu has been blocked, market arrivals have plummeted, and under the summer high temperature power rationing policy, production capacity in many places has been greatly limited, although it has sold storage again within the month, but it still has little impact on the total market demand, and the overall supply side is tight The situation does not change, which boosts the spot price to rise further
.
As far as the current fundamentals are concerned, the support below the aluminum price may weaken after the inflection point of inventory, but the tight supply side situation during the year is difficult to change, and it is expected that the aluminum price may continue to rise, but there is not much space above, and the follow-up needs to be vigilant against the risk of moderate correction; The main focus is on the oscillation range of 1.
94-20,400, and the operation can be taken appropriately at the high, and the downstream is temporarily wait-and-see, and a small amount of stock can be replenished on demand
.
It is expected that spot aluminum may rise first and then fall next week, and the overall operation
will remain high.
