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Last week, Shanghai aluminum fluctuated sharply downward, including a decline of 530 yuan on the 24th, a decline of 3.
66%.
Last Friday's opening was 13,940 yuan, the highest intraday was 14,150 yuan, the lowest was 13,670 yuan, and it barely stood 14,000 points to the close, at 14,090 yuan, up 45 yuan, or 0.
32%, and the overall market was bearish
.
In terms of external trading, LME03 aluminum was quoted at $1746.
5 at 3:00 pm (Beijing time) yesterday
.
At the macro level, the Fed emphasized that there is no room for monetary policy, coupled with the second outbreak of the new crown epidemic in Europe, the dollar index passively rose
due to the weakening of the euro and the pound.
In addition, the second outbreak of the epidemic has increased market risk aversion, causing widespread pressure on metals
.
In terms of supply, in addition to the current Yunnan Hongtai Phase I 1.
08 million tons began to be put into operation, Yunnan, Shanxi and other places will release more production capacity in the fourth quarter, and the supply pressure is increasing
.
In terms of demand, downstream orders have not improved significantly, and downstream consumption is still weak, but at present, the operating rate of the downstream real estate industry has increased, and there is a possibility that the short-term will gradually warm, but the pace of demand recovery is slowing down
.
In the long run, due to the acceleration of the pace of supply-side release and the slowdown of the pace of demand-side recovery, changes in the rhythm of supply and demand make the downward movement of aluminum prices accumulate over time
.
Long-term strategy, it is recommended to rebound and sell short, and industrial customers increase selling hedging positions
.
However, in the short term, it is recommended to control the position and be cautious
.
