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Today's Shanghai aluminum main month 2107 contract, opening 18730 yuan / ton, the highest intraday 18980 yuan / ton, the lowest 18665 yuan / ton, settlement 18745 yuan / ton, the end closed at 18930 yuan / ton, up 185 yuan
.
Today's Shanghai aluminum shock is strong, many places have issued corresponding measures for dual control of energy consumption, and the launch of electrolytic aluminum production capacity will slow down; At the same time, the domestic aluminum ingot social inventory continues to degrade, and the aluminum market supply and demand pattern is good
.
In the external market, today's Lun aluminum fluctuated to the upside, LME three-month Beijing time at 15:02 at 2455 US dollars / ton, up 16 US dollars, or 0.
64%,
from the previous trading day's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 18760-18800 yuan / ton, up 130 yuan; Guangdong South Reserve reported 18890-18950 yuan / ton, up 110 yuan; China reported 18800-18840 yuan / ton, up 110 yuan
.
Holders actively adjust prices and shipments, and downstream purchases in appropriate quantities, and the overall trading is general
.
In terms of fundamentals, on the 24th, the inventory reported 874,000 tons, down 1.
6 from last Thursday; during the same period, the steel union statistics aluminum rod inventory of 111,000 tons, down 02,000 tons from last Thursday; since May, Inner Mongolia, Yunnan, Guizhou and other provinces and regions will reduce production by 1 million tons, and the supply shortage is expected to increase; In May, the export of unwrought aluminum and aluminum products was 439,000 tons, a slight increase of 01,800 tons from the previous month, and the export performance was stable; the import of aluminum ingots in the same period was 97,300 tons, down 58,300 tons
from the previous month.
On the macro front, two Fed presidents expect the Fed to raise interest rates in 2022, and the US economy may reach the threshold for the Fed to taper asset purchases sooner than expected; The two parties reached a preliminary agreement on a $579 billion infrastructure plan, far lower than Biden's expectations; Local provinces, municipalities and autonomous regions have successively issued action plans
for peaking carbon emissions.
Fed monetary tightening expectations have strengthened, but inflation expectations remain and metals have increased their two-way volatility
.
In the long run, aluminum fundamentals are
well supported.
Short-term disturbances at the macro level exist
.
From a technical point of view, the price of Shanghai aluminum remains volatile, and the moving average is still in a bonded state, waiting for direction
.
