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Shanghai aluminum fluctuated in a narrow range this week, and the overall oscillation around the 17370-17650 range, down 0.
17% from last week; At the beginning of this week, due to the Qingming small holiday, the market was closed on Monday, the lack of directional trend, the upward momentum of aluminum prices was somewhat weakened, the market long and short game was fierce, and the short-term aluminum price shock trend was difficult to change, but in view of the optimism of aluminum price fundamentals, it is expected that there is little room for decline, Shanghai aluminum is expected to stand above 17,000 in the short term, and the operation is cheap to buy ideas
.
It is expected that the aluminum price volatility next week will be difficult to change, and the main force will continue to pay attention to the 17200-17800 range shock
.
This week, Lun aluminum volatility rose slightly, the overall around 2240-2289 US dollars range oscillation, about 1.
9% from last week, early week due to Good Friday and Easter, Monday LME market closed, Lun aluminum many attempts to rush up, but lack of good news driven, and the early aluminum price continued to rise too fast, long and short game, Lun aluminum fell into a shock pattern, short-term is expected to continue to bear pressure at the $2300 mark, there is little room for decline, there is still a possibility
of breakthrough in the medium term.
In terms of the market, this week's holders have stable shipments, the market supply is still abundant, demand has improved, coupled with relatively flat prices, downstream enterprises just need to stock up, and the transaction is
acceptable.
East China: This week electrolytic aluminum still maintained a destocked state, but the decline was less than expected, the market bullish enthusiasm faded, aluminum prices fell into a high shock adjustment, this week East China spot aluminum fluctuation space has narrowed, relative to last week's trend slowed down, as of Friday, East China spot aluminum prices between 17470-17510 yuan / ton, up 60 yuan / ton from last Friday, spot slightly discounted 20
.
South China: As of Friday, the price of Foshan Nanhai aluminum ingot with tickets is between 17730-17830 yuan / ton, a small increase of 20 yuan / ton from last Friday, traders fast forward and fast out, downstream enterprise orders are acceptable, and the demand for peak season is optimistic, buy on demand
.
Overall, the short-term macro guidance is blunted, although the consumption performance of Shanghai aluminum is acceptable, but the tightening of the supply side is less than expected, aluminum lacks clear directional guidance, and is expected to continue the trend
of high range oscillation.
