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On Friday, the main contract of Shanghai aluminum opened at 14250 yuan / ton in the morning, intraday metal fell sharply, Shanghai aluminum also increased its position downward to refresh the previous low, touched 14020 yuan / ton, the end of the day short cover closed at 14075 yuan / ton, Shanghai aluminum index position increased by 1078 hands to 811344 lots, because the downstream demand after this year's Spring Festival has not shown the heat due to the peak season, especially in the building profile industry, so the short-term supply and demand pressure is greater, and the expectation difference prompts short funds to enter the market more momentum.
It is expected that next week's main contract will run weakly at 13900~14250 yuan / ton, or will initially test the integer mark of 14000 yuan / ton, and aluminum prices still need to observe the pace
of consumption recovery in the medium term.
In terms of the external market, Lun aluminum opened at 2110 US dollars / ton in the morning, and during the Asian session, Lun aluminum followed the market led by domestic bears, and entered the European trading session Lun aluminum continued to decline, the low touched the previous low of 2093 US dollars / ton, and then rebounded slightly to 2107.
5 US dollars / ton, as of 18:00, Lun aluminum reported 2099.
5 US dollars / ton, short-term is expected that Lun aluminum will continue to fluctuate
around the 2100 US dollars / ton first-line integer mark.
In terms of the market, in the short term, the high inventory pressure of the domestic aluminum market can not be ignored, the total source of aluminum ingots in the national market has increased to 2.
21 million tons, and the current aluminum inventory in the Guangdong market has approached 400,000 tons, and the pressure is difficult to eliminate
.
Nanchu East China aluminum ingot quotation 13950-13990 yuan, the average price of 13970 yuan, up 70; Yangtze River: 13970-14010, 13990 up 60
.
Secondary trading session futures are lower, downstream demand is not good, but inter-trader trading is acceptable
.
The transaction price fell from 13990 yuan to 13930 yuan, which was a premium of -40~+20 yuan
compared with the average price of South China East China.
The price of South China aluminum ingots was 13960-14060 yuan, and the average price was 14010 yuan, up 50 yuan
.
The price difference between the two places has narrowed, and the demand has improved slightly, but the supply is still relatively abundant, and the mainstream transaction price is concentrated between 13970-14030 yuan, which is -40~20 yuan
higher than the average price of South China Reserve.
Since the downstream demand after the Spring Festival this year has not shown the heat of the peak season, especially in the construction profile industry, so the short-term supply and demand pressure is greater, the expectation difference has prompted the short funds to enter the momentum is full, it is expected that next week's main contract weak running at 13900 ~ 14250 yuan / ton, or will initially test 14000 yuan / ton integer mark, the medium term still need to observe the pace
of consumption recovery.
