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Trade Service
This week, Shanghai aluminum showed a trend of first rising and then suppressing, and the main 2008 contract closed at 13605 yuan, down 15 yuan
weekly.
Although the price trend of Shanghai aluminum is still relatively strong, but the price difference between contracts has fallen significantly, according to historical experience, the soft forced position of 07 and 08 contracts has probably ended, even if there is a soft position in the future, it should be carried out
on the 08 and 09 contracts.
In terms of inventory, on Monday, the total social inventory of electrolytic aluminum was 680,000 tons, down 25,000 tons from last Monday, and the inventory is already at a low level and is still declining, but the overall downward trend is slowing down
.
At present, the premium premium of spot A00 aluminum ingots to the current month's contract has changed to a premium of 190 yuan / ton to a premium of 230 yuan / ton, a slight increase from last week and at a high level
.
In recent days, there has been a release of pre-holiday stocking demand downstream, but because aluminum prices are at a high level, the enthusiasm for stocking is not as expected
.
At present, the operating rate of the aluminum profile factory is still at a high level, and it is understood that the high operating rate can be maintained at least until the end of
July.
However, the operating rate of aluminum plate, strip and foil enterprises has declined, and aluminum export orders have also decreased
significantly.
It is expected that after entering July and August, the downstream demand for aluminum will decline
.
In May, China's exports of unwrought aluminum and aluminum products were 382,900 tons, down 28.
4%
year-on-year.
In the first five months of this year, the export of unwrought aluminum and aluminum products was 2.
012 million tons, a year-on-year decrease of 18.
7%.
The export volume of aluminum products has decreased significantly, which further verifies the judgment
of the decline in demand for overseas aluminum orders.
At present, the aluminum market is in a tight spot market, but in the pattern of weakening downstream demand, there is still a certain fear of heights in the market
.
