Market inventories continue to increase, and the short-term volatility pattern of aluminum prices is difficult to change

East China: After last week's decline, the decline of spot aluminum this week slowed down significantly, but affected by the epidemic, downstream enterprises have not fully resumed work, market demand is weak, and inventory continues to increase, making the trend of aluminum prices weak, as of Friday, East China spot aluminum reported 13550-13590, up 30 from last week; South China: This week's spot aluminum prices in South China first rose and then fell, as of Friday, Foshan aluminum ingot with a fare of 13870-13970 yuan / ton, down 20 yuan / ton from last week, Guangdong and Shanghai price difference of 320 yuan, the increase in market arrivals made the trend of aluminum prices weak, and due to the impact of the epidemic, the downstream has not been fully started, and the transaction is light
.

Stocks: 108,000 tons in Shanghai, 38.
5 tons in Wuxi, 121,000 tons in Hangzhou, 164,000 tons in Gongyi, 234,000 tons in Nanhai, 59,000 tons in Tianjin, 11,000 tons in Linyi, 11,000 tons in Chongqing, and the total inventory of aluminum ingots in the place of consumption was 1.
093 million tons, an increase of 148,000 tons
from last week.

Scrap aluminum market, spot aluminum rose first and then suppressed this week, scrap aluminum rose steadily; At present, the mainstream price of clean machine aluminum in South China is around 10000, and the price of aluminum wire is around 12000-12050; At present, the mainstream receipt price of aluminum alloy spraying old materials in East China is around 10400-10600, aluminum wire 11900-12100, and cans 8500-8700
.

Market: Due to the epidemic situation, the market operating rate is not high, some recyclers and smelters have not yet started work, the market trading is light, and the overall transaction is light
.

Market forecast: this week's spot aluminum prices first rose and then declined, scrap aluminum rose steadily, the domestic epidemic continued to ferment, logistics and transportation have not yet improved, most of the recyclers and smelting enterprises in the market have not yet started, it is expected that scrap aluminum prices will remain stable
in the short term.
The market digested the pessimism brought about by the epidemic, this week the trend of Lun aluminum volatility stable, from the trend point of view, Lun aluminum in the 1700 mark temporarily supported, but lack of substantial positive boost, the rise may be limited, the pressure above the 1800 mark remains, next week is expected to be the overall stable pattern unchanged, continue to pay attention to the 1700-1780 US dollar range shock
。 This week, the trend of Shanghai aluminum is also stable, the downstream resumption of work is extended, most of them have not fully resumed work, weak demand, and inventory continues to increase, poor fundamentals, inhibiting the upside of aluminum prices; Next week, the volatility pattern is difficult to change, and Shanghai Aluminum continues to pay attention to the 13600-13900 range shock market, and the pressure on the upper 10,000 mark remains
.
Operationally wait and see
.