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At the beginning of this week, the Shanghai aluminum index was affected by the news of continued supply-side reform in China, slightly soared 14,500 yuan, and then began to fall under pressure, touching 14,020 yuan
at the end of Friday.
The week closed at 14,080 yuan, down 320 yuan, or 2.
22%.
Index holdings increased by 22,890 to 811,000
.
In the external market, LME aluminum in March began to fluctuate, the price rushed up to $2157 in the middle of the week, fell to a minimum of $2093 on Friday, and fell $55.
5 at the time of writing, a weekly decline of 2.
58%.
In terms of the market, the main trading range of spot aluminum in Shanghai Nonferrous Metals Trading Center (SME) this week was 13920-14100 yuan / ton, and the discount was reported at c180-c90 yuan / ton
.
This week, the spot market basically resumed normal trading, trading is mostly traders arbitrage value preservation, market shipments have increased, traders trading is acceptable, downstream demand is temporarily not good
.
Spot aluminum prices rebounded slightly on Friday morning, holders raised prices, the market was abundant, the willingness to receive goods continued to boost, and the overall trading situation was slightly active
.
In terms of industry, the General Administration of Customs announced on March 8 that China exported 372,000 tons of unwrought aluminum and aluminum products in February, and the total export of unwrought aluminum from January to February was 81.
7 tons, compared with 64.
9 tons in the same period last year, an increase of 25.
8%
year-on-year.
In terms of news, on Thursday, US President Trump announced that he will impose high tariffs on imported steel and aluminum, the market is worried about the trade war, panic spread has led to a sharp weakening of the commodity market, aluminum market, domestic demand recovery is slow, inventory is high, supply and demand have not improved, aluminum prices fell into range shock, the future with the first quarter of new production capacity landed, the aluminum market may continue to face the risk
of pullback 。 Zhou K on the Shanghai aluminum index KDJ dead cross, MACD dead cross, the price broke downward; On the daily K, MACD dead cross, KDJ dead cross, the moving average is in a bearish trend, the short-term price is temporarily supported by 14,000 yuan, but the overall trend is weak, and there is still room for decline below
.
