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Shanghai aluminum continued to be weak last week, with a cumulative weekly decline of about 1.
03%; Shanghai aluminum prices fluctuate more frequently during the week, after nearly two weeks of decline, the decline of Shanghai aluminum has slowed down recently, in the short term under the support of low inventory, aluminum prices may fluctuate steadily, the main focus on 1.
43-14,700 range fluctuations, it is expected that spot aluminum may stop falling and rebound
.
In terms of external trading, Lun aluminum is mainly in a narrow range, and the overall trend is relatively stable, the highest rise to $1792, the upper continues to test 1800, and the weekly cumulative increase is about 0.
4%; The sharp fall in gold and silver during the week led to a weakening of the financial market, market sentiment has declined, and Lun aluminum has a slight adjustment, but the global economy is still recovering steadily, and the favorable support of various countries also has some support for aluminum prices, in the short term, Lun aluminum continues to have a strong shock trend probability is larger, and the overall fluctuation
is in the 1750-1820 range.
East China: off-season effect appeared, electrolytic aluminum continued to accumulate the trend during the week, especially in Wuxi, more obvious, the overall trend of aluminum prices is weak, East China spot aluminum center of gravity downward, as of Friday the price is between 14540-14580 yuan / ton, spot still maintains a premium state, the current premium is about 50 yuan; In terms of market transactions, most of the holders maintained stable shipments, and the market supply was acceptable, but the orders of enterprises in August decreased compared with June and July, and downstream enterprises mostly bought on demand, and the overall market transaction was average
.
South China: As of last Friday, the price of Foshan Nanhai aluminum ingot tickets was between 14730-14830 yuan / ton; Traders in the week are not as enthusiastic as the previous week, prices continue to fall, downstream enterprises have a strong wait-and-see atmosphere, and the receipt of goods is mostly reflected in Friday
.
From a macro perspective, the global economic recovery is still expected, and the stimulus policies of various countries have also boosted aluminum prices; From a fundamental point of view, the off-season market after August gradually emerged, the demand under the increase in supply is gradually declining, the trend of weak fundamentals is still continuing, but low inventory still has some support for aluminum prices, in the short term Shanghai aluminum or still continue to fluctuate trend, the main force above the focus on 15,000 pressure level, below support 14,000, it is expected that the overall fluctuation of aluminum prices next week is not large, or there is a possibility
of stopping the decline and rebounding.
