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Multi-country stimulus measures eased market sentiment, aluminum prices slowed down this week, and Lun aluminum fell by about 1.
7%; Shanghai aluminum main weekly decline of 2.
13%; The continuous spread of the overseas epidemic still brings uncertainty to the global economy, and the fundamentals are not good, the rise in aluminum prices is limited, and next week is expected to fluctuate at a low level, Shanghai aluminum is concerned about the pressure level of the 12,000 mark, and can buy
a small amount.
Nonferrous metals as a whole follow the risk point to copper, and aluminum due to the relatively large proportion of exports, the recent overseas automotive industry interference has formed a new negative for aluminum fundamentals, resulting in weak aluminum prices in nonferrous metals
.
At present, the electrolytic aluminum industry has experienced a large loss, the scale of subsequent production reduction is expected to expand, aluminum prices have limited downward space, but the rebound momentum under the weak external demand is also small, and the market is expected to be dominated by strong shocks in the short term
.
Industry News:
1.
China's total aluminum scrap imports from January to February 2020 were 122,200 tons, down 40.
3% year-on-year, and recorded the lowest level
in the same period in several years.
At that time, China's unwrought aluminum alloy imports accumulated 118,900 tons, and the import volume in the first two months reached half of last year's total, and the cumulative import of aluminum alloy in 2019 was 215,700 tons
.
2.
The Ministry of Civil Protection announced at noon on the 25th that New Zealand entered a national emergency
on the same day.
The Tiwai Point Aluminium Smelter is New Zealand's only aluminium smelter with a total capacity of 370,000 tonnes
.
The aluminium smelter, which employs around 1,000 southern workers, was allowed to continue operations
during a four-week nationwide lockdown.
The epidemic in Europe and the United States has fully broken out, consumption has fallen into long-term stagnation, and the decline of London aluminum this week is difficult to change, with a weekly decline of about 1.
7%; At the beginning of the week, U.
S.
stocks triggered the circuit breaker again, the trend of London aluminum fell endlessly, closed down for 4 consecutive trading days, the lowest intraday fell to $1528, a new low since April 2016, even if the United States continues to introduce fiscal stimulus policies, ease market sentiment, but the market enthusiasm is not high, the continued spread of overseas epidemics still brings uncertainties to the global economy, it is expected that next week Lun aluminum low volatility trend is difficult to change, beware of hitting a new low
.
Continue to pay attention to changes in the overseas epidemic situation and global booster measures and policies
.
