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Last week, Shanghai aluminum rebounded at a low level, the lowest intraday main contract down to around 18,700, but the end of the macro stimulus pushed, again pulled up above 19,700, as of Friday's close, Shanghai aluminum 2201 contract closed at 19720, weekly cumulative increase of 4.
34%; Short-term aluminum prices will rise again, or are expected to break the 20,000 mark; The main contract focuses on the volatility range of 1.
88-20,000
.
Last week, Lun aluminum showed a volatile upward trend, with a slight adjustment during the session, but it rose again at the end of the day, once breaking through the $2,700 mark, and the cumulative increase as of Friday was about 3.
3%; The Fed's last interest rate decision of the year landed during the week, and it said at the meeting that it would accelerate TAPER and achieve three interest rate hikes in 2022; In the short term, the policy direction has not changed significantly, in line with market expectations, in addition, the Fed's optimism about next year's accelerated economic recovery has also boosted the market bullish sentiment, bulls entered the market to raise the price upward, and then with the macro sentiment stabilized Lun aluminum or will also maintain a high level of stable operation, Lun aluminum focus on 2650-2730 US dollars
.
Spot market: prices have risen sharply, the enthusiasm of holders to ship has increased, and the spot market is abundant, but downstream enterprises have limited actual market access due to weakened orders, which drags down market transactions
.
In addition, it is understood that some enterprises in East China said that due to the epidemic and market conditions, it is expected to start the holiday in early January
.
East China: The United States CPI in November hit the largest increase in 40 years, macro positive, with the Fed announced to accelerate the tapering of bond purchases, but basically in line with market expectations, last week aluminum prices ushered in a rise in the market, Tuesday, Friday single-day rise are close to 400 yuan / ton, as of Friday, East China spot aluminum prices between 19360-19400 yuan / ton, up 860 yuan / ton, spot slightly discounted 40 yuan
.
South China: As of Friday, the price of Foshan Nanhai aluminum ingot ticket was between 19730-19830 yuan / ton, up 610 yuan / ton from last Friday, and the increase was significantly inferior to East China
.
In terms of market transactions, downstream enterprises' lack of confidence in the future market coupled with a sharp rise in prices has led to a strong wait-and-see mood, and market transactions have weakened
compared with last week.
Last week, Shanghai aluminum rebounded at a low level, and the lowest intraday main contract fell to around 18,700, but the macro stimulus at the end of the day drove and rose again above 19,700, hitting the 20,000 mark; as of Friday's close, the Shanghai aluminum 2201 contract closed at 19720, with a weekly cumulative increase of 4.
34%; With the recent landing of the Fed's policy, the market tension has been released, coupled with many parties optimistic about the prospects of global economic development, bulls are bullish; In addition, the trend of domestic short-term inventory delocalization is obvious, which has strong support for prices, and short-term aluminum prices will rise again, or are expected to break the 20,000 mark
.
