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Overnight, aluminum prices bottomed out again, thermal coal contracts fell again, in addition, relevant domestic departments also shot again on coal prices, short-term policies continued, and aluminum prices also had a certain negative impact, Shanghai aluminum broke the 20,000 mark
.
Today's aluminum price bottomed out and rebounded, the lowest intraday main force fell to 19200, as of 3 pm close, closed down at 19920, down 4.
14%.
Recently, the market has news out of the country or relax the coal control policy, so that the price returned to a stable range, in the afternoon "three brothers of coal" have opened the limit board, non-ferrous metals decline has also slowed down, short-term energy prices stabilized or caused the decline in aluminum prices to narrow, but considering the current domestic power rationing and energy consumption dual control policy on aluminum prices favorable driving effect has been gradually destroyed, supply and demand side support strength weakened, in addition, rumored news has not been confirmed to be effective and effective, need to be vigilant against the risk of falling again in the night market, short-term aluminum price rebound is limited, The main force of Shanghai aluminum may still fluctuate around the 20,000 mark, with 19,000 support below
.
In terms of the market, in the short term, the spot discount range has narrowed, downstream procurement has improved slightly, and the processing fee of aluminum rods has rebounded slightly, or driven aluminum rods to the warehouse
in advance.
The current macro policy undoubtedly has a strong guiding effect on aluminum prices, and after returning to fundamentals, the price will have a certain opportunity
to repair upward.
On the whole, the fundamentals are supported, and the price is weak and volatile under the guidance of the policy, so you can
stock up on demand.
