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Last week, Shanghai aluminum first rose and then fell, and continued to rise at the beginning of the week, with strong spot stocks and good progress in new crown vaccines, boosting market confidence, and the main contract of Shanghai aluminum 2007 broke through the 13,000 mark intraday, reaching as high as 13,020; However, the lack of fundamental substantial positive boost, and the near strength far weak trend is more obvious, Shanghai aluminum under pressure at this threshold, as expected, fell down, returned to the 12700 volatility, last week cumulative rise of 1.
5%.
In terms of the external market, macro tends to ease, last week Lun aluminum center of gravity slightly up, intraday broke through the $1500 mark, the highest climbed to $1524.
5, due to the global economic lag caused by the epidemic, but recently the world began to unblock, and gradually recover the economy, boost market demand, Lun aluminum inventory growth slowed down, Lun aluminum got a short-term boost, from the trend point of view, the fundamentals have not yet significantly improved, short-term Lun aluminum rebound is limited, it is expected that next week Lun aluminum to maintain a volatile market, continue to pay attention to the volatility around $1500
。
In terms of the market, the price of spot aluminum ingots continued to move up after the month change, the spot premium continued to expand, the highest premium was 250 yuan, as the price fell, the worries of holders rose again, the willingness to raise prices weakened, the spot high premium began to fall, as of Friday, the spot premium was around 150 yuan; The market fluctuates greatly, traders are still enthusiastic about receiving goods, downstream companies receive more goods on Friday, and the overall transaction is slightly better than last week
.
In South China, the South China market performed significantly better than the East China market last week, with strong willingness and firm prices from holders to hold prices; As of Friday, the price of Foshan aluminum ingot tickets was between 13530-13630 yuan / ton, up 270 yuan from last Friday, an increase significantly more than that in East China; Downstream enterprises are obviously afraid of heights, and they mainly
buy on demand.
East China, electrolytic aluminum continued to destock, economic restart improved market confidence, aluminum prices were boosted, last week aluminum prices once stood at 13,500, but the rebound is difficult to continue, then fall, give up most of the gains, the overall performance first rose and then fell, the price center of gravity shifted, as of Friday, East China spot aluminum prices between 13130-13170 yuan / ton, up 130 yuan
from last Friday.
In terms of stocks, last week's domestic social electrolytic aluminum stocks were 131,000 tons in Shanghai, 40.
2 tons in Wuxi, 112,000 tons in Hangzhou, 56,000 tons in Gongyi, 201,000 tons in Nanhai, 58,000 tons in Tianjin, 8,000 tons in Linyi, 11,000 tons in Chongqing, and the total inventory of aluminum ingots in the place of consumption was 979,000 tons, down 79,000 tons
weekly.
In terms of spot, as of Friday, the spot aluminum price in East China was reported at 13130-13170 yuan / ton, up 130 yuan / ton from last week, and the future premium was 150; The market is abundant, and the willingness of holders to raise prices has slowed down
.
Next week, the material shock is stable, and East China spot aluminum is concerned about 13000-13200 yuan / ton
.
From the trend point of view, the market is concerned about the recent domestic economic conference favorable boost, so trading cautious, long and short game, is expected to short-term aluminum prices into a shock pattern, after the previous big rise, do not rule out the risk of pullback, Shanghai aluminum main force temporarily continue to pay attention to 1.
26-12,900 range shock, next week is expected to fall first and then stabilize, the operation is temporarily wait-and-see
.
