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Overnight, Lun aluminum rose to $2,500, and Shanghai aluminum continued to hit a new high
.
During the May Day period, the social inventory of aluminum ingots was the same as before the holiday, and the peak season consumption performance was stronger, but the recent resumption of production on the supply side is increasing, and the spot discount has expanded to 60 yuan to follow the rise is slightly weak
.
Under the macro and capital pull, the strength of Shanghai aluminum is difficult to calm down, and the early orders can continue to be held and cautiously chased up
.
On May 6, the domestic spot aluminum price rose, and the spot AOO aluminum ingot price of Yangtze River Nonferrous Metal Network was reported at 19150 yuan / ton, up 310 yuan; The price of Chinalco East China AOO aluminum ingots was 19150 yuan / ton, up 320 yuan
.
The tension between China and Australia may affect the supply of raw materials, Australia is the world's main bauxite and alumina producer, the domestic traditional consumption season just needs to promote the continuous destocking of inventory, electrolytic aluminum plants have been in a state of basic full production, and spot aluminum prices are expected to rise
today.
For the current trend of aluminum prices, the continued bullish psychology is still more obvious, but the cautious mentality is more obvious with the continuous rise of aluminum prices, especially in the case of continuous warning at the top level, and the regulatory risk at the policy level has become one of the important factors of the
current market uncertainty risk.
Looking forward to the future market, aluminum prices will continue to remain high under the expectation of reductions caused by carbon neutrality policies, but at the same time, the risk of price correction is not ruled out by the fact that the dumping has not yet
landed.
With the rapid rise of aluminum prices, the pace of downstream stocking may be lengthened and relatively cautious, which is not conducive to the smooth transmission of aluminum prices in the industrial chain, so it is expected that domestic electrolytic aluminum will continue to maintain a slight destocking trend, but the destocking rate may be difficult to increase
.
At the same time, the electrolytic aluminum industry in May and June may usher in a concentrated production period, or usher in a boom
in supply and demand.
Overseas, they continue to pay attention to vaccination and epidemic control
.
In the short term, aluminum prices remain strong under the rise of macro sentiment, and the pace and operation still need to be cautious, and a pullback
is not excluded.
