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With the Fed's unlimited easing policy, dollar liquidity has eased, the US index fell to a two-week low for four consecutive trading days, and the next week London aluminum was strongly volatile, the latest closing quotation of 1553 US dollars / ton, up 13 US dollars, or 0.
81%, the volume of 13545 lots increased by 440 lots, and the position 751927 increased by 7868 lots
.
On the macro front, the epidemic situation in Europe and the United States continued to increase, extending the 15-day "social distancing prevention advice" issued two weeks ago to April 30, and Trump said that June will be the time for the economy to restart again; The U.
S.
Senate and House of Representatives passed a $2 trillion stimulus plan; On the 27th, the central meeting released a signal
of active fiscal policy and loose monetary policy.
In terms of fundamentals, dragged down by aluminum prices, alumina plummeted, and alumina production capacity recovered; Affected by the loss, the production capacity has increased significantly; On the 26th, SMM aluminum ingot inventory reported 1.
667 million tons, an increase of 20,000 tons from last Thursday, and the growth rate slowed down significantly, due to the increase in loss-making factory
warehouses.
The risk of global runaway epidemic has increased, the epidemic in the United States is still in a period of growth, panic is still strong, global economic activity will fall into a long-term shutdown, and the recession will intensify; The adjustment of domestic aluminum production capacity is slow, the cost is constantly falling, the inventory is still high, the external demand is facing a sharp decline, and the downward adjustment pressure of the industry is still large
.
At present, the signs of easing the epidemic in the United States and Europe are not obvious, the speed of weakening consumption is still faster, and the continuous low price is needed to accelerate the progress of production reduction to adjust the balance of supply and demand, so the continuous rise in aluminum prices is not driven, but before the inflection point in terms of the epidemic, consumption continues to weaken and the global economic pessimism is expected to continue to pressure aluminum prices, so it continues to be short for aluminum prices
.
