The decline of Shanghai aluminum has slowed down significantly, and it is expected to fluctuate at a short-term low

Europe and the United States epidemic full outbreak, consumption into long-term stagnation, this week London aluminum fell is difficult to change, 4 consecutive trading days average closed down, hit a new low since April 2016, even if the United States continues to introduce fiscal stimulus policies, ease market sentiment, but the market enthusiasm is not high, overseas epidemic continues to spread still to the global economy uncertainties, is expected next week London aluminum decline slows down, but the low shock trend is difficult to change
.
Continue to pay attention to changes in the overseas epidemic situation and global booster measures and policies
.

In terms of the market, this week's aluminum fell first and then rose, the market bullish atmosphere is higher, the participation of traders is improved, downstream enterprises into the market to receive goods has also improved, the transaction is slightly improved compared with last week, in addition, it is understood that the current market merchants have purchased aluminum ingots without tickets, waiting for the market to improve
。 East China: The epidemic abroad continued to deteriorate, market panic spread, aluminum ingot prices fell by nearly 600 yuan on Monday, and then various stimulus policies were introduced, aluminum prices rebounded, but the overall performance was still cautious as market concerns remained; As of Friday, the price of spot aluminum ingots in East China was between 11500-11540 yuan / ton, down 270 yuan / ton
from last Friday.
South China: As of Friday, the price of Foshan aluminum ingot strip was 11790-11890 yuan / ton, down 240 yuan / ton from last Friday, and the price difference with East China widened to 320 yuan / ton; The market is still showing oversupply, downstream companies are worried about falling prices again, mainly buying on demand, and the activity of traders in South China has increased
this week.

In terms of inventory: this week's domestic social electrolytic aluminum stocks, Shanghai area 158,000 tons, Wuxi area 65.
2 tons, Hangzhou area 132,000 tons, Gongyi area 167,000 tons, South China Sea area 441,000 tons, Tianjin 57,000 tons, Linyi 12,000 tons, Chongqing 18,000 tons, consumption of aluminum ingot stocks totaled 1.
667 million tons, an increase of 20,000 tons
from last week.

Spot: As of Friday, the price of spot aluminum ingots in East China was between 11500-11540 yuan / ton, down 270 yuan / ton from last Friday, and the discount was 80; The market is full of supply, the downstream inquiry is positive, the overall transaction is better than last week, short-term aluminum prices or fall into a volatile pattern, next week spot aluminum focus on 11400-11700; Buy-on-demand is the mainstay
.

After last week's plunge, the world introduced a series of stimulus measures to boost market sentiment, and the decline of Shanghai aluminum slowed down significantly this week, with a weekly decline of 2.
13%; At the beginning of the week, due to the US stock market once again triggered the circuit breaker, Shanghai aluminum fell, the main 2005 contract intraday low to 11275, a new low since March 2016, then the United States launched unlimited QE and Congress 2 trillion stimulus to be landed in the background, global stock markets and commodities rebounded, but the continued spread of overseas epidemics still brings uncertainties to the global economy, and the overall demand is still weak, limiting the rise in aluminum prices, Shanghai aluminum main force back to 11600-11700 around the shock, the current trend is not obvious, Next week, it is expected to fluctuate
low.