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Last week, Shanghai aluminum rushed higher again, the main force pulled above the 20,000 integer mark, and gradually stood firm, as of Friday afternoon's close, the main contract of Shanghai aluminum closed at 20185, with a weekly cumulative increase of 2.
12%; Nonferrous prices once again showed a wave of rising tide during the week, and after more than a month of shock adjustment, Shanghai aluminum once again broke through the 20,000 mark; This wave is mainly disturbed by foreign supply interference, driven by the expectation of production cuts and the destocking of domestic social libraries, aluminum prices gradually maintain a high range of volatility
.
Last week, Lun aluminum fluctuated up, with a weekly increase of about 3.
8%; In the short term, because there is still no substantial production reduction news, the market sentiment fades aluminum prices or gradually stabilize, but the follow-up can still pay attention to further European smelter news, Lun aluminum focus on the 2750-2880 range
.
On the macro front, due to Russia's interruption of European natural gas pipelines, the high energy prices in Europe have put pressure on industrial production, and according to statistics, nearly 2.
4 million tons of aluminum smelters in Europe currently use natural gas for power supply.
In the short term, because there is still no substantial production reduction news, aluminum prices may gradually stabilize as market sentiment subsides, but further European smelter news
can still be paid attention to.
In terms of market, downstream demand has weakened significantly, due to environmental protection and weather in some northern areas, some profile companies have stopped production, coupled with the impact of the Spring Festival, downstream demand has weakened, and market transactions have become weak
.
East China: European energy crisis, electrolytic aluminum production reduction speculation again, this week aluminum prices in the supply side stimulated, again pulled up, in one fell swoop broke through the 20,000 mark, as of Friday, East China spot aluminum prices between 20050-20090 yuan / ton, up 690 yuan / ton
from last Friday.
South China: As of Friday, the price of Foshan Nanhai aluminum ingot with tickets was between 20350-20450 yuan / ton, up 620 yuan / ton from the previous month, and the South China market performance in the past two weeks was significantly lower than that in
East China.
In terms of market transactions, the enthusiasm of cargo holders has increased, the local market is abundant, prices are high, and downstream enterprises mainly replenish inventory on demand
.
Shanghai aluminum soared again during the week, with a cumulative weekly increase of 2.
12%; Driven by the expectation of production reduction and the destocking of domestic social treasury, aluminum prices have gradually maintained a high range of shock operation
.
As far as the future market is concerned, the fundamentals are expected to fluctuate little years ago, and the destocking will continue to support the price below, and if the macro impact gradually fades, the aluminum price will stabilize in the stable range
of 1.
92-20,000.
