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Shanghai aluminum fluctuated
in a narrow range on Friday night.
Non-ferrous metals ushered in a rebound after the release of the risk of the interest rate decision of major central banks in the world last week, coupled with the recent marginal improvement in aluminum consumption, the continuous decline in social inventories boosted, and the increase in Shanghai aluminum positions broke through the upper edge of the shock range for nearly one and a half months, paying attention to the confirmation of the breakthrough and the confirmation of consumption by inventory data
.
Last week, domestic and foreign aluminum prices rebounded, mainly due to the short-term better fundamentals and the boost of the FOMC meeting to
the entire nonferrous sector.
For aluminum fundamentals, affected by the steady increase in downstream demand, the social treasury has continued to degrade
in the near future.
According to the survey, some profile companies in the north have shown signs of reducing production due to cold winter, but due to the temporary unlimited power constraints in the north, the downstream increase in procurement after the stabilization of aluminum prices to hedge the reduced consumption due to the reduction in production, while the southern region has also increased procurement, so the continuous dematerialization
can be seen from the social treasury.
However, the recent increase in aluminum prices is large, the spot discount is widening, aluminum rod and aluminum rod processing fees are down, downstream follow-up procurement willingness or reduced, it is expected that the second half of the month will accumulate the social library, aluminum prices will be weak.
It is recommended to pay attention to factors such as the release of hidden stocks in the north, aluminum export tax rebates, and environmental protection policies for the Winter Olympics
.
