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Aluminum market review: this week's Shanghai aluminum weekly cumulative decline of 0.
78%; In the short term, in the context of weak fundamentals, it is difficult for aluminum prices to rise sharply, and the main force may maintain a range of 1.
51-15,600 oscillations, and the overall trend is stable and weak
.
As of Friday, East China spot aluminum was between 15690-15730 yuan / ton, which was stable compared with before the holiday, and the spot premium was 40 yuan
.
Spot still has strong support at the lower 15,000, and it is expected that the spot aluminum trend will continue to fluctuate next week, or there will be a slight weakness
.
In terms of spot, LME aluminum spot discount was $7.
50/ton, compared with $4.
00/ton
in the previous session.
Shanghai and Wuxi quotation between 15540-15570 yuan / ton, Wuxi slightly higher than Shanghai 10 yuan / ton, the two places from the previous day down nearly 150 yuan / ton, spot premium in 60-100 yuan / ton, a large household around 15560 yuan / ton to carry out procurement plans, but the overall market receiving sentiment is not high, trading performance is average, bright spots are almost nothing
.
In terms of stocks, LME aluminum ingot stocks decreased by 0.
6 million tons to 1.
3131 million tons
on January 7.
On January 7, domestic aluminum ingot social stocks increased by 21,000 tons from last week to 665,000 tons
.
On the news front, the Democrats' return to control of the Senate will pave the way for further fiscal stimulus, which is expected to lead to a faster economic recovery and positive for colored prices
.
At present, the circulation of aluminum spot is relatively sufficient, large households maintain receipts, the downstream of Henan is still affected by limited production, aluminum ingots began to flow to East China, Guangdong, this week the two places aluminum inventory increase is large to a certain pressure on aluminum prices
.
The supply side of electrolytic aluminum has maintained a steady rise, smelter profits continue to rise, in addition, the increase in scrap aluminum imports is a high probability event, and the pressure on the supply side is greater than in the previous period
.
