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Shanghai aluminum rebounded on Friday, and spot turned to a slight premium
.
On Thursday, the social inventory of aluminum ingots fell slightly from Monday, and it is about to enter the peak consumption season, and the inventory will remain low
.
In the case of continuous energy consumption and power rationing problems, the subsequent recovery of electrolytic aluminum supply is slow, and the contradiction between Shanghai aluminum supply and demand is still prominent, and it is expected to continue to operate between the middle and upper Bollinger bands, paying attention to the overall mood changes in the market, and temporarily buying with high volatility
pullbacks.
Foshan aluminum: 8/20 Nanchu Foshan aluminum ingot quotation 20240-20300 yuan, the average price of 20270 yuan, down 10, up 195
on the month.
Aluminum prices fell slightly, near the weekend time point holders began to actively reduce shipments to realize, premium report -20 ~ -10 yuan, downstream demand for goods picked up, subsequent prices raised to about the average price, the transaction is more active
.
The subsequent price rises, the spot and rising water is adjusted to 60~100 yuan, and the receiver purchases a small amount of relatively low-priced goods, and the transaction turns weak
.
The spot transaction price is concentrated in 20250-20370 yuan, which is a premium of -20~100 yuan
compared with the average price of Foshan in the South Reserve.
Wuxi aluminum: 8/20 Nanchu Wuxi aluminum ingot quotation 20080-20120 yuan, the average price of 20100 yuan, up 10, up 25
for the month.
The East China market continued to be strong, Shanghai aluminum rose steadily in the morning, the price sentiment of the holders was obvious, and the premium was about 20 yuan for shipment, and the receiver was optimistic about the future market still actively purchasing, and the transaction was better
.
In the later period, the market continued to rise, the receiving party was bullish and still actively inquired, the shipper and the rise reported a premium of 50~80 yuan, and the market weakened
after the completion of the trading part.
The spot transaction price is concentrated between 20120-20180 yuan, which is 20~80 yuan
higher than the average price of Wuxi in the South Reserve.
In terms of stocks, LME stocks stood at 1,315,100 mt as of Aug.
19, down 0.
54 million mt
from the previous session.
As of August 13, the social stock of aluminum ingots rose 06,000 tons from last week to 738,000 tons
.
Although aluminum prices are supported by fundamentals and relatively resist declines, market sentiment has turned sad across the board, and the colored sector is under
pressure as a whole.
Fundamentally, the supply-side power and production restrictions are still continuing
.
Downstream consumption has improved, but overall it is still in the seasonal off-season
.
The latest inventory data shows that aluminum ingots have been slightly destocked, but the dematerialization speed is slow, and there is a backlog of aluminum ingots on the northwest platform, which may affect the inventory in the future
.
In terms of price, since the supply and demand ends of aluminum will still benefit from the impact of the concept of "carbon neutrality" for a long time to come, and the macro liquidity inflection point has not yet officially arrived, it is necessary to continue to pay attention to the impact of the
Fed's attitude.
