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This week's aluminum prices showed a trend of first declining and then rising, with Lun aluminum rising by 3.
4% and Shanghai aluminum falling by 0.
21%; During the week, the country still did not take the problem of rising commodity prices lightly, and the policy continued; Although aluminum prices have risen under the recovery of market confidence, on the whole, aluminum prices still have the potential
to fall.
On the macro front, the National Council will focus on the easing of market setbacks caused by commodity prices
.
US President Joe Biden will announce a $6 trillion budget for 2022, and the market risk appetite has rebounded significantly, pushing US stocks higher
.
In addition, Fed officials frequently warm up the tapering of QE, and the expected heating up of monetary policy adjustments will bring some support
to the dollar.
The US dollar index may maintain consolidation in the short term, and the downside may be limited
.
On the supply side, Yunnan has implemented peak shifting power consumption due to insufficient precipitation, which is expected to affect the release
of some production capacity.
In terms of demand, the social inventory of domestic aluminum ingots and aluminum rods is still in a state of decomposition, and the peak season just needs to support
aluminum prices.
Looking forward to next week, the peak season just needs to continue to support aluminum prices, but due to the pressure of the national high-level, the overall center of gravity of aluminum prices may consolidate at a high level
.
Foshan aluminum: 5/28 Nanchu Foshan aluminum ingot quotation 18940-19000 yuan, the average price of 18970 yuan, up 440, up 160
for the month.
Aluminum prices turned sharp, morning prices fluctuated at a high level, near the end of the month holders at high prices to actively ship cash, the circulation of goods is abundant, downstream is slightly afraid of heights, the premium fell from 10 to -20 ~ -10 yuan, the transaction of low-priced sources is acceptable
.
The price volatility in the later period was weak, the spot market was lackluster, the premium was reported at -80~0 yuan, and the trading quickly turned weak
.
The spot transaction price is concentrated in 18890-18970 yuan, which is a premium of -80~0 yuan
compared with the average price of Foshan in the South Reserve.
Wuxi aluminum: 5/28 Nanchu Wuxi aluminum ingot quotation 18790-18830 yuan, the average price of 18810 yuan, up 440, unchanged from the month
.
East China's spot performance has weakened, Shanghai aluminum rushed high after the high level of shock, high price under the enthusiasm of the shipper increased, the receiver multi-pressure price on-demand procurement, premium report -20 ~ 0 yuan, the overall transaction is general
.
In the later period, the overall market was weak, and the market still had some trading demand, and the premium was reported at -70~20 yuan, but the transaction situation was flat
.
The spot transaction price is concentrated between 18740-18830 yuan, which is a premium of -70~20 yuan
compared with the average price of Nanchu Wuxi.
From the perspective of the trend of the commodity market, the supply and demand fundamentals of a single variety are not the key to affecting its price trend, and market sentiment and national policies have become the key to determining the
price trend.
After a continuous decline, the top of the aluminum price may have appeared, and it is recommended to test the short after the
rebound.
