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On Friday night, the Shanghai aluminum main 2002 contract opened at 14200 yuan / ton, the first half of the night long position, touched a high of 14260 yuan / ton, the second half of the long position closed profit, Shanghai aluminum trend performance in a narrow range oscillation, closed at 14250 yuan / ton, up 75 yuan / ton, up 0.
53%.
Overnight, Lun aluminum opened at 1803 US dollars / ton in the morning, and during the Asian session, Lun aluminum rose slightly and then fell; During the European session, the market fell to a low of 1793 US dollars / ton and then recovered, the highest touched 1805 US dollars / ton, and the North American trading session once again performed first and then rose, and finally closed at 1801 US dollars / ton, mainly long positions
.
It is expected to run at $1780-1810/ton
during the day.
In the spot market, the aluminum price of spot East China was reported at 14430-14470 yuan / ton, up 450 yuan / ton from last week, a weekly increase of 3.
15%; The spot changed from flat water to 160 liters; Short-term gains or slowdown, next week beware of rushing back down, East China spot aluminum fluctuation range focus on 14200-14500 yuan / ton
.
In terms of inventory, this week's domestic social electrolytic aluminum stocks were 119,000 tons in Shanghai, 193,000 tons in Wuxi, 54,000 tons in Hangzhou, 29,000 tons in Gongyi, 131,000 tons in Nanhai, 54,000 tons in Tianjin, 5,000 tons in Linyi, 19,000 tons in Chongqing, and the total inventory of aluminum ingots in consumption was 604,000 tons, down 44,000 tons
from last week.
Domestic electrolytic aluminum social stocks remain degraded, and aluminum ingot stocks are expected to slowly decline below 600,000 tons
.
It shows that the current downstream demand is good, and the Spring Festival is earlier than in previous years, which makes some downstream consumption front-facing, which has a greater pull
on aluminum prices.
The expansion of the basis difference between Shanghai and aluminum shows that the current supply is tight, and the number of warehouse receipts has decreased compared with the previous period, and shorts may face the risk
of being forced to take positions again.
However, in the medium and long term, the price of alumina continues to fall, aluminum companies are very profitable, and the production capacity of electrolytic aluminum will gradually resume production driven by profits, and the supply pressure of electrolytic aluminum will increase significantly in the later stage, and the medium and long term will still maintain a bearish situation
.
Aluminum prices have been repeated in the short term under the condition of a good macro atmosphere, and have now broken through the 10,000 barrier, and the new order is recommended to wait and see
for the time being.
