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Today's Shanghai aluminum main month 2104 contract opened at 17325 yuan / ton, the highest intraday 17350 yuan / ton, the lowest 16845 yuan / ton, settled 17085 yuan / ton, and closed at 17020 yuan / ton, down 380 yuan
.
Today's Shanghai aluminum low volatility, China's manufacturing boom level fell month-on-month, electrolytic aluminum inventory accumulated rapidly, dragging down metal prices
.
In terms of external trading, today's Lun aluminum is strongly volatile, LME three-month aluminum Beijing time at 15:00 at 2163.
5 US dollars / ton, up 6.
5 US dollars, or 0.
30%
from the previous trading day's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 17010-17050 yuan / ton, down 230 yuan; Guangdong South Reserve reported 17030-17090 yuan / ton, down 220 yuan; Hua reported 17140-17160 yuan / ton, down 220 yuan
.
Holders are slightly reluctant to sell, large households are generally enthusiastic about receiving goods, and transaction activity is weak
.
Fundamentally, the accumulation volume in the two weeks after the holiday is slightly above the median of the calendar year, and the market is still trading the logic
that accumulation is less than expected.
In addition, last week, the start of leading aluminum processing enterprises increased sharply by 19.
0 percentage points to 60.
1%, and the overall resumption of work of downstream processing enterprises was relatively fast, and the short-term consumption margin was stronger
.
Compared with consumption, the impact of the supply side is more obvious, the recent market reported that Inner Mongolia was interviewed again due to the incomplete "dual control" of energy consumption, Mengdong electrolytic aluminum enterprises were affected by this and reduced production, and the current Inner Mongolia new production capacity is located in Mengdong, because of the large control of energy consumption, does not rule out the possibility
of new production capacity being delayed or suspended.
Therefore, at present, the marginal demand is strong and the supply is weak, and the underlying support logic of aluminum prices still exists
.
Subsequently, after entering March, the accumulation slows down and may turn to destocking, with a peak of nearly 1.
25 million tons, and the center of gravity of aluminum prices is expected to move further upward, but it is necessary to be wary of the price correction
caused by the weakening of macro sentiment.
