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Shanghai aluminum rose strongly last week, with a cumulative weekly increase of about 4.
6%; Domestic downstream consumption continued to improve during the week, the demand for automobiles and home appliances continued to rise to promote the continuous dematerialization of social inventory, the current domestic inventory has fallen to about 620,000 tons, in the low inventory and macro favorable impetus, aluminum prices continue to climb to a new high, but the market does not fully recognize this high price, most of them hold a wait-and-see attitude; In the short term, aluminum prices have gradually stabilized at Wanfang, and there is no large reversal in domestic fundamentals, and the probability of Shanghai aluminum continuing to run at a high level is relatively large, and the main focus is on the range of 1.
5-15,800
.
In the external market, last week Lun aluminum continued the previous rally, with a cumulative weekly increase of about 1.
9%; The global manufacturing data during the week has a strong boost to market confidence, in addition, after Biden's victory, the market still hopes for the subsequent economic stimulus policies launched by the United States, in the short term, the overall macro trend is still good, Lun aluminum or still maintain a high volatility trend, can continue to pay attention to whether it can stand firm at the 1900 mark
.
Market: As prices rebounded and continued to break through new highs in the year, holders were worried about falling prices, shipment enthusiasm increased significantly, and spot premiums declined; Intermediaries are more cautious in entering the market, downstream enterprises are afraid of heights, wait-and-see or buy on demand, there are few hoarders, and the overall market transaction is average
.
East China: Domestic electrolytic aluminum inventories continue to fall, has fallen to the end of the year, coupled with downstream consumption did not appear in the off-season decline, aluminum prices were supported, last week the price continued to move up, the increase significantly expanded from the previous week, East China spot aluminum highest has risen to around 15650, as of Friday, East China spot aluminum between 15610-15650 yuan / ton, up 540 yuan from the previous week, spot premium 10
.
South China: As of Friday, the price of Foshan Nanhai aluminum ingot with tickets was between 15860-15960 yuan / ton, up 630 yuan / ton from the previous week, and the increase was significantly more prominent than that in East China; The demand of downstream enterprises is acceptable, and it is mainly
necessary to purchase when entering the market.
Aluminum prices continued to rise during the week, with Lun aluminum rising by about 1.
9% and Shanghai aluminum rising by 4.
6%; Recently, under the resonance of low inventory superimposed on macro favors, aluminum prices have gradually climbed to a new high in the past 2 years, and if there is no large reversal in fundamentals, the probability of Shanghai aluminum continuing to run at a high level is large, and the main force can pay attention to 1.
5-15,800 range shocks, and Lun aluminum focuses on 1900-1960 US dollars
.
