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Last week, aluminum prices rose sharply, with London aluminum rising by about 2.
6% and Shanghai aluminum rising by 3.
3%; Recently, supported by stable domestic fundamentals and low inventories, Shanghai aluminum may continue to operate at a high level, but it is recommended to continue to pay attention to the guiding role of the US election results on market sentiment, and spot aluminum is expected to maintain a stable trend
.
Last week, London aluminum fluctuated to the upside, with a cumulative weekly increase of about 2.
6%; The sharp rise in U.
S.
stocks and crude oil during the week has a strong boost to aluminum prices, and Biden's better win in the U.
S.
election has also made market sentiment better, on the whole, in the short term, under the support of various macro benefits, Lun aluminum or maintain a strong trend, or continue to test the 1900 mark; Follow-up suggestions pay close attention to the situation of the US election, if there is a turn, Lun aluminum may fluctuate
greatly.
Market: As of Friday, the spot aluminum price in East China was between 15070-15110 yuan / ton, up 260 yuan / ton from last Friday, and the premium was 80 yuan / ton
.
Downstream enterprises and traders are cautious in receiving goods, and the transaction is limited
.
The price of electrolytic aluminum stands at 15,000, the enthusiasm of the cargo holder is high, the market is abundant, but the middleman is more cautious in receiving goods, fast forward and fast out, downstream enterprises fear the fall mood is obvious, just need to stock the mainly, the overall market transaction is general
.
East China: electrolytic aluminum inventory continued to decline, the support for aluminum prices is obvious, the center of gravity of spot aluminum in East China has moved up significantly, the overall operation is above 15,000, as of Friday between 15070-15110 yuan / ton, up 260 yuan / ton from last Friday, spot premium has fallen since the beginning of the week, currently in the premium of 80 yuan / ton
.
South China: As of Friday, the price of Foshan Nanhai aluminum ingot with tickets was between 15230-15330 yuan / ton, up 240 yuan / ton from last Friday, the performance was slightly inferior to East China, the cargo holders shipped steadily, the macro environment was unstable, and middlemen and downstream enterprises were cautious in receiving goods
.
Last week, the trend of Shanghai aluminum was good, with a cumulative increase of about 3.
3%; Domestic consumption showed signs of improvement during the week, and the fundamentals of supply and demand gradually stabilized under the recovery of demand, although the production capacity of aluminum enterprises was still being released under the high profit of aluminum enterprises, but the social inventory remained stable and destocked during the week, and the aluminum price fluctuated and rose under the support of low inventory superimposed on spot; In addition, on the macro side, because the results of the US election have not yet been confirmed, but Biden won a large victory, market sentiment has also been boosted; On the whole, in the short term, Shanghai aluminum may continue to run at a high level in the state of stable supply and demand, and can continue to pay attention to the US election in the future, focusing on fluctuations in the range of 1.
45-15,000
.
