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Recently, Shanghai aluminum passively followed up, but compared with the surrounding metal trend, Shanghai aluminum rising momentum is slightly insufficient, the main 1808 contract broke through the 15,000 mark intraday, the highest climb to 15,100, obviously the pressure of the 15,000 mark remains, with the slowdown in copper price growth, Shanghai aluminum followed the fall, the main force returned to below 15,000, the overall fluctuation remained in the range of 1.
45-14,900, and the market inventory continued to decrease or formed a certain support for aluminum prices, next week is expected to return to the previous range shock market, there is not much room for rise and fall
。
In terms of external trading, this week Lun aluminum rushed back down, due to the weakening of the US dollar, and the strong trend of London copper, Lun aluminum climbed to 2353 US dollars, but obviously lack of substantial benefits to drive, aluminum prices rose in the end of the void, copper prices slowed down, Lun aluminum followed the fall, intraday back below $2300, short-term is expected to maintain a volatile market, the overall fluctuation range of London aluminum 2250-2350 US dollars
.
Inventory, this week's domestic electrolytic aluminum social stocks, Shanghai area 442,000 tons, Wuxi area 817,000 tons, Hangzhou area 121,000 tons, South China Sea area 284,000 tons, Gongyi area 192,000 tons, Tianjin 61,000 tons, Chongqing 29,000 tons, Linyi area 31,000 tons, consumption area aluminum ingot inventory total 1.
977 million tons, down 55,000 tons
from last week.
In terms of spot, as of Friday, East China spot aluminum traded at 14730-14770, up 250 from last week; Spot discount 30 yuan / ton
.
The rise in aluminum prices this week is mainly driven by the rise in copper prices, which does not have substantial momentum, beware of falling high prices, and mainly look at more and move less
.
East China: The impact of Sino-US trade is limited, the US dollar is lower, electrolytic aluminum spot inventories continue to decline and copper prices soared, this week domestic aluminum prices rose, East China spot aluminum ingot prices rose to the highest above 14800, the trend is significantly better than last week, as of Friday, the price is between 14720-14760 yuan / ton, up 250 yuan
from last Friday.
South China: As of Friday, the price of aluminum ingots in South China was 15040-15140 yuan / ton, up 260 yuan from last Friday; The market arrival in South China has declined slightly, although the shipment of holders has increased, but the price is relatively firm, traders are more motivated to enter the market, and the downstream on-demand receiving is the mainstay, and the transaction is not as good as last week
.
Shanghai aluminum passively followed up this week, compared with the surrounding metal trend, Shanghai aluminum rising momentum is slightly insufficient, the main 1808 contract broke through the 15,000 mark intraday, but obviously this threshold pressure remains, with the copper price rise slowed down, Shanghai aluminum followed the fall, the main force returned to below 15,000, next week is expected Shanghai aluminum to maintain 1.
45-14,900 range fluctuations, because inventories continue to reduce support, there is not much
room for rise and fall.
