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The price trend of Shanghai aluminum this week remained range-bound; The average weekly settlement price of the 1805 contract of Shanghai Aluminum in the current month was 14569 yuan, an increase of 0.
89% from last week's settlement price; The weekly line rose 0.
28%, and the main operating range price this week was 14530-14620 yuan / ton
.
In the first four months of this year, the total import and export value of China's trade in goods was 9.
11 trillion yuan, an increase of 8.
9%
year-on-year.
China's import and export data maintained growth, indicating that global demand picked up, raised the market's good expectations for economic development, and Shanghai aluminum prices rose; Century Aluminum does not expect that the global supply of aluminum raw materials will continue to tighten, so it is not worried that the global price of aluminum raw materials will continue to rise, and aluminum prices will fall
.
In terms of external trading, China and the United States have fully exchanged views on expanding US exports to China, bilateral trade in services, two-way investment, protection of intellectual property rights, and resolving tariff and non-tariff measures, and reached some consensus
in some fields.
The progress of Sino-US trade negotiations eased market concerns, and the price of London aluminum rose
.
However, the poor performance of the US CPI economic data in April suppressed investors' enthusiasm to enter the market, and the price of London aluminum fell
under pressure.
This week, the price of aluminum showed a "trapezoidal" trend
.
The market is mainly focused on the $2200 support level
.
In terms of inventory, the trend of Lun aluminum inventory continued to decline this week, and the latest inventory was reported 1264250 metric tons, reducing the inventory by a total of 46,400 metric tons, a decrease of about 3.
54%; The total aluminum stock of the Shanghai Futures Exchange this week was 992023 tons, an increase of 5,818 tons, or about 0.
59%,
from last week.
Aluminum market dynamics
1.
China's exports of unprocessed aluminum and aluminum products in April were 451,000 tons, and the cumulative export volume from January to April was 1.
72 million tons, an increase of 15.
4%
over the same period of the previous year.
In February and March, China's bauxite imports were 7,271,039 tons, a year-on-year increase of 44.
38%.
From January to March 2018, China's imported bauxite output was 20,403,561 tons, a year-on-year increase of 47.
16%.
Looking forward to the future market, the market has good expectations for economic development, which has boosted investors' enthusiasm for entering the market, and the domestic consumption of imported bauxite in April increased month-on-month, and the improvement in demand also provided support
for the rise in aluminum prices.
This week, aluminum prices are on the strong side
.
The overall shipment attitude of traders this week is positive, and the market circulation is stable; Next week's market news is light, aluminum prices lack support upside weakness, it is expected that next week's spot aluminum prices will maintain range volatility
.
