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Non-ferrous metals in the futures market rebounded to varying degrees at the end of last week, and the rapid recovery of Shanghai aluminum to around 19,000 was slightly blocked
.
Today's aluminum prices are expected to fluctuate and consolidate, slightly stronger
.
Aluminum prices have experienced a wave of rapid rise in the early stage of the market has appeared a certain degree of correction, macro uncertain risks or and fundamental good pattern into the game, it is expected that aluminum prices show a wide range of shocks, short-term recommended range operation, the medium term is still optimistic about aluminum prices
.
In terms of macro, Premier Li Keqiang said at the meeting of the Association for Science and Technology on the 28th that it is necessary to maintain the necessary support for macro policies and pay attention to using market-oriented methods to solve problems such as rising commodity prices; The epidemic situation in Southeast Asia has been escalating, production and manufacturing have been affected to a certain extent, and the epidemic
has appeared in the Guangfo region.
The epidemic situation in Southeast Asia is heating up, the global economy is still in the recovery stage, and monetary policy is still in the easing stage; Domestic regulatory pressure is increasing, market sentiment disturbances are increasing, but the fundamentals are strong, low inventories, supply is declining, and aluminum prices are strongly supported
.
Recently, the National Council and the China Nonferrous Metals Industry Association have frequently spoken out, repeatedly prompting the risk of commodity price increases, and electrolytic aluminum, as a variety that benefited from carbon neutrality in the early stage, has the largest
adjustment range.
Moreover, the rumored dumping time is approaching, which has also exacerbated the market panic to a certain extent
.
In terms of demand, electrolytic aluminum showed strong toughness, spot discount turned into premium, and orders improved significantly after the price retreated, indicating that the spot market has strong support
.
The Biden administration has proposed a $6 trillion budget that is also expected to significantly increase the amount of
aluminum used.
Overall, the overall demand for electrolytic aluminum is better, and the support below is strong
.
