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This week, the Shanghai aluminum index first fell and then rose, and the price began to fall under pressure at the beginning of the week, falling to a minimum of 16255 yuan on Tuesday, and then the price rebounded at a low level, and on Friday in the context of the black series breaking through the previous high, the main increase caused the index to rush up to 16805 yuan, closing at a high level
in recent weeks.
The week closed at 16,765 yuan
.
Index holdings increased by 117.
06 million lots to 1.
02 million
.
In terms of external trading, this week's LME March aluminum veneer rose, and the price bottomed out after Tuesday's slight adjustment of $2,069, rising for four consecutive days, and the price rushed to a maximum of $
2,145 on Friday.
It closed at $
2,137.
5 at press time.
In terms of the market, this week's spot aluminum price range volatility, spot discount continued to maintain above the hundreds, affected by the abundant market supply, this week holders shipped actively, but are mainly operated by middlemen, downstream few goods, the overall trading is general
.
On Friday morning, the quotation turned from discount to premium, and the current price spread of the delivery month continued to be high, making traders enter the market arbitrage operation more actively, and the downstream was close to the weekend with a small amount of stocking, and the market transaction was slightly active
.
On the news front, China's PMI data exceeded expectations during the week, and the continued weakening of the US dollar supported the rebound
in non-ferrous metals.
On Friday morning, the steel mill blast furnace fire, the market expects that the heavy industry safety inspection before the 19th National Congress will be further strengthened, in addition, the Beijing-Tianjin-Hebei region has carried out air pollution strengthening supervision, the future aluminum market supply decline is expected to deepen, market sentiment continues to be bullish
.
On the eve of the release of the US non-farm payrolls data, the market maintained a cautious wait-and-see, domestic and foreign inventory pressure continued to increase to inhibit the rebound of aluminum prices, and aluminum prices rose weakly this week
.
The metal market began to enter the "gold nine silver ten" demand season, and the strong implementation of the capacity reduction policy supported the upward trend of aluminum prices, the profitability of the aluminum industry increased, and it is expected that aluminum prices will run
strongly next week.
