Lack of actual favorable support Aluminum prices maintain a volatile trend

Last week, the Lun aluminum shock was weak, with a cumulative weekly decline of about 0.
86%; Macro support weakened during the week, and the resurgence of U.
S.
stocks and crude oil has constrained aluminum prices, and the friction between China and India has also deepened market panic; However, on the whole, the general trend of global economic recovery is still there, and in the short term, Lun aluminum or maintain a high level of operation, and then you can continue to pay attention to the stimulation of the aluminum market by the new policies of various countries, and it is expected that the overall fluctuation of London aluminum next week is not large, or continue to fluctuate
.

In terms of the market, the price fluctuates greatly, traders inquire more, the transaction is more active, the market supply is more abundant, but subject to the unstable market, downstream enterprises have a strong wait-and-see atmosphere, and the market entry is mostly reflected in the short-term inventory
on Friday.

In South China, as of last Friday, the price of Foshan Nanhai aluminum ingot tickets was between 14950-15050 yuan / ton, up 180 yuan / ton from last Friday, and the increase was wider than that in East China; Last week, the market supply was acceptable, and the change in demand in the peak season of downstream enterprises was not obvious for the time being, and most of them maintained the main need to prepare goods, and the overall transaction was average
.

East China: Peak season demand expectations boosted, aluminum prices rose more than 200 yuan at the beginning of the week, but with the crude oil plunge and other negative factors dragged down, aluminum prices were hindered, giving up some of the gains, as of Friday, East China spot aluminum prices between 14590-14630 yuan / ton, the average price of 14610, up 140 yuan
from last Friday.

In terms of stocks, last week's domestic social electrolytic aluminum stocks were 120,000 tons in Shanghai, 24.
9 tons in Wuxi, 87,000 tons in Hangzhou, 87,000 tons in Gongyi, 173,000 tons in the South China Sea, 51,000 tons in Tianjin, 5,000 tons in Linyi and 3,000 tons
in Chongqing.

Last week, Shanghai aluminum showed a volatile adjustment market, with a cumulative weekly decline of 0.
25%; Due to the lack of actual favorable support during the week, the overall shock pattern of Shanghai aluminum did not change; From a macro perspective, the current economic recovery environment is still favorable to the market, but the sharp decline in the stock market and crude oil has also inhibited the upward trend of aluminum prices to a certain extent; In addition, the overall domestic supply and demand contradiction is still in the process of slow repair, and the peak season consumption expectations have not yet been fulfilled, the follow-up can pay close attention to the improvement of peak season demand, if there is an improvement, aluminum prices are still likely to strengthen; In the short term, the main force of Shanghai aluminum can continue to pay attention to the volatility in the range of 1.
42-14,700, while next week is close to futures delivery, need to be vigilant against the risk of making up the fall, it is expected that next week's spot aluminum or still dominated by shock adjustment
.