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As of Friday's afternoon close, the main 2108 contract of Shanghai aluminum closed up at 19470, with a cumulative weekly increase of 3.
15%; During the week, Shanghai aluminum continued to break the upward position, and the main force once climbed above 19,500, and once again launched an impact
on the 20,000 mark.
Last week, the overall trend of Lun aluminum was strong, and the intraday aluminum price once soared, but the upward momentum slowed down after favorable digestion, and as of Friday, the weekly cumulative increase was close to 1%; During the week, the Fed chairman released dovish remarks again, boosting market bulls' confidence, coupled with the continuation of loose monetary policy and the acceleration of global economic recovery, the short-term trend of London aluminum or still has a strong performance, and then continue to pay attention to the next round of Fed policy news, London aluminum focus on the shock range of 2500-2580 US dollars
.
In terms of the market, traders have a strong bullish atmosphere, market entry operations are more frequent, the overall supply of the market is acceptable, downstream enterprise orders have decreased due to off-season, and fear of heights is obvious, more wait and see, some enterprises are forced to receive goods at high prices, and the overall market transaction is average
.
In East China, after entering the summer, high temperature warnings are frequently issued in various places, and the strong demand for thermal coal brought by the peak of electricity consumption has attracted many attention
.
Many places power rationing policy again, Yunnan, Mengxi area electrolytic aluminum production news again, supply side disturbance frequently, market bullish atmosphere, the week electrolytic aluminum prices continued to rise, as of Friday, East China spot aluminum prices between 19390-19430 yuan / ton, up 560 yuan from last Friday, an increase of nearly 3%.
In South China, as of Friday, the price of Foshan Nanhai aluminum ingot with tickets was between 19670-19770 yuan / ton, up 540 yuan / ton from last Friday, an increase of 2.
8%; Downstream enterprises are heavier on the sidelines, and transactions are mostly driven by traders
.
On the one hand, macro policy tends to stabilize, the central bank's RRR cut and the Fed's dovish comments have boosted market sentiment
.
On the other hand, under the frequent high-temperature power rationing policy in various places, the supply-side restriction situation is grim, and the carbon emission market is officially opened on Friday, and the subsequent nonferrous metal industry is expected to be included, and the aluminum market may welcome the "supply-side reform"; In addition, the domestic destocking process is continuing
.
On the whole, short-term fundamentals and macro face price support is strong, and Shanghai aluminum is expected to maintain a high level of strong operation, the main focus is on the shock range of 1.
92-19,800, and the upper pressure level is 20,000
.
