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Last week, Shanghai aluminum reached a new high again, falling slightly during the session, but at the end of the day once pulled up close to the 21000 mark, as of Friday's three o'clock close, Shanghai aluminum main 2110 contract closed up to 20890, a weekly cumulative increase of 3.
88%; In addition, Xinjiang has recently issued a production restriction policy, requiring rectification of the phenomenon of "overproduction", following the second power cut in the southwest region, this time once again suppressed the release of supply-side production capacity
.
Last week, Lun aluminum rose sharply, with the highest intraday rise above 2650, breaking the previous expectations, and as of Friday, the cumulative increase has reached about 4.
1%; The overall performance of non-ferrous metals during the week was average, aluminum was unique, and both internal and external disks performed strongly; As the macro news gradually stabilizes, aluminum prices have also begun a steady upward trend, in addition, most investors are still in a wait-and-see situation, waiting for what signals the central bank meeting releases, but overall, driven by the background of global aluminum demand, Lun aluminum may maintain a high and strong trend, or have the opportunity to hit the 2700 mark, pay attention to the 2600-2700 range fluctuations
.
In terms of the market, prices continue to hit new highs, downstream enterprises are more cautious in entering the market, few stocking companies, mainly on-demand procurement, and transactions are mostly reflected in the trade market
.
East China: The tightening of the supply side and the news of production cuts in Xinjiang have risen again, the price of aluminum is more obvious, coupled with the third dumping of limited reserves, the market bullish atmosphere is strong, this week aluminum prices have risen sharply, as of Friday, East China spot aluminum prices have risen to 20610-20650 yuan / ton, up 530 yuan / ton from last Friday, spot from the beginning of the week premium 50 to the current basic flat water state
。 South China: As of Friday, the price of Foshan Nanhai aluminum ingot with tickets was between 20920-21020 yuan / ton, up 410 yuan / ton from last Friday, and the increase was significantly inferior to that in East China; As the price stands at the 20,000 mark, the downstream fear of heights is heavier, the actual purchase volume is limited, and the transaction volume declines
.
As far as the current fundamentals are concerned, the mismatch between supply and demand has further aggravated, forming a strong support for prices; However, it should also be noted that as prices soar to record highs, risks are also increasing, and it is necessary to be cautious to continue to chase higher, and at the same time, you can pay more attention to what signals will be released by the central bank meeting in the evening, or have a certain impact on market sentiment; Short-term Shanghai aluminum can pay attention to the range of 2.
04-21,000 range
.
