Shanghai aluminum weekly high fell back market panic spread

This week, the price of London aluminum once rose to a record high of 3480 US dollars / ton, but quickly fell at the end of the day, and as of Friday, the cumulative increase reached about
1.
6%.

In terms of the market, the confidence of cargo holders in the future market is insufficient, shipments have increased, the market supply is abundant, and demand has recovered, and the situation of downstream enterprises entering the market has improved, driving market transactions
.

East China, Russia and Ukraine war, market risk aversion heating up, at present many European and American countries have clearly targeted a number of sanctions against Russia, this week aluminum prices fluctuated more sharply, the upper pressure level of 23,000, as of Friday East China spot aluminum prices between 22800-22840 yuan / ton, up 100 yuan / ton
from last Friday.

South China: As of Friday, the price of Foshan Nanhai aluminum ingot ticket was between 23030-23130 yuan / ton, a slight increase of 10 yuan / ton from last Friday, significantly inferior to East China; Traders have a heavier wait-and-see atmosphere, and downstream enterprises just need to stock up on the dip
.

Aluminum prices fell back this week; Shanghai aluminum main force fell 1.
44%, London aluminum rose 1.
6%; The war in Ukraine broke out in full force during the week, overseas tensions intensified, considering that the short-term game between major countries will continue, market panic spread under the bulls or gradually profit out of the market, aluminum prices or face the risk of continued pullback, it is expected that next week's spot aluminum shock is weak, Shanghai aluminum focus on 22000-22800, London aluminum focus on 3250-3380 range
.