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Last week, Shanghai aluminum overall in a "V" pattern trend operation, the market was worried about US inflation at the beginning of the week, and under the expectation of interest rate hikes in June, the sentiment was affected to a certain extent, and the disk fluctuated and pullback.
Once fell below 25,000, but with the introduction of domestic economic policies, tax and fee reductions, consumption promotion and other favorable policies, Shanghai aluminum rebounded at a low level, once maintained a trend of 3 consecutive rises, rising to around 20,800, and standing above the 60-day moving average last week, with the blessing of favorable policies, Shanghai aluminum or is expected to continue to rise, next week Shanghai aluminum main force or between 2.
05-21,000 oscillations
.
Last week, Lun aluminum fluctuated between $2820-2930, and the overall trend was a volatile correction
.
Due to the impact of foreign macro bearishness, the probability of the Fed raising interest rates by more than 50 points in June deepened, and energy prices continued to soar, the market was worried about global inflation and the prospect of recession, Lun aluminum performance was weak during the week, during the period after falling below the 20-day moving average continued to fall, Friday the plate was once below the moving average, LME aluminum inventories continued to decrease, and the dollar index fell to a recent low, Friday the market temporarily stopped falling, it is expected that the decline may also slow down, or there is a possibility of a low recovery, but please lead the emotional side, the height may be limited, Or oscillate
between $2850-3000.
In terms of the market, the epidemic has been effectively controlled, downstream demand has improved, electrolytic aluminum inventories have declined, and traders' enthusiasm to enter the market has also increased, and the transaction is better than last week
.
East China: At the beginning of the week, due to the market's concerns about the global economic downturn and the haze of the Fed's interest rate hike expectations, aluminum prices above the pressure was greater, there was a fall, and then by a series of domestic measures to promote economic recovery, aluminum prices rose, back the previous days of decline, as of Friday, East China spot aluminum prices between 20780-20820 yuan / ton, up 30 yuan / ton month-on-month, spot maintained a flat water state
.
South China: Last week, aluminum ingots in South China first fell and then rose, as of Friday, the price of aluminum ingots with tickets was between 21010-21110 yuan / ton, up 10 yuan / ton from last Friday, and the current price of aluminum ingots in the two places shrank to about 260 yuan; In terms of market transactions, the holders have stable shipments, the supply of goods in the local market is abundant, the market is unstable, and downstream enterprises just need to stock up
.
Overall, the negative impact of macro interest rate hikes in the week still exists, and the market sentiment is weak, but with the gradual implementation of the national policy of stabilizing the economy, the fundamentals of the aluminum market are expected to be good, and the aluminum price bottomed out, and it is expected that next week will continue to fluctuate at a high level, the overall or performance is biased, Shanghai aluminum focuses on the 20400-21200 range, and Lun aluminum focuses on 2820-2980 US dollars
.
