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Affected by the epidemic worries and macro sentiment, aluminum prices broke downward last week, the main force of Shanghai aluminum fell below the 14000 mark, the lowest down to 13510, recovered part of the decline on Friday, and closed at 13945 at the end, a weekly decline of 3.
36%; Short-term pre-holiday downstream stocking may have some support for aluminum prices, but the pace of demand recovery in the peak season is slow
.
And high profits still make aluminum prices have the risk of falling, and the medium and long-term is not optimistic
.
Continue to monitor the evolution
of the epidemic.
In terms of external trading, last week London aluminum closed down for 4 consecutive trading days, the lowest down to 1726 US dollars, Friday slightly warmed up, Lun aluminum returned to around 1750 oscillation, weekly decline of 2.
34%; From the trend point of view, affected by the macro sentiment, Lun aluminum or the rise is limited, the probability of shock is expected to be large, pay attention to the range of 1730-1780 US dollars
.
In terms of the market, due to the approaching National Day holiday, aluminum prices fell, holders were mainly reluctant to sell, the enthusiasm of the market to receive goods was acceptable, and the spot premium remained strong, and the premium expanded to 310
.
In terms of spot, as of Friday, the spot aluminum price in East China was 14260-14300 yuan / ton, with an average price of 14280, down 510 yuan
from the previous month.
Spot premiums remained strong, expanding to 310
.
From the trend point of view, the short-term spot of 14,000 may have some support
.
In terms of stocks, domestic social electrolytic aluminum stocks during the week were 122,000 tons in Shanghai, 23.
6 tons in Wuxi, 163,000 tons in the South China Sea, 72,000 tons in Hangzhou, 67,000 tons in Gongyi, 47,000 tons in Tianjin, 3,000 tons in Chongqing, 6,000 tons in Linyi, and the total inventory of aluminum ingots in consumption was 716,000 tons, down 24,000 tons
from the previous week.
Last week, aluminum prices broke downward, the main force of Shanghai aluminum fell below the 14000 mark, and closed at 13945 at the end of Friday, a weekly decline of 3.
36%; Short-term pre-holiday downstream stocking may have some support for aluminum prices, but the pace of demand recovery in the peak season is slow
.
And high profits still make aluminum prices have the risk of falling, and the medium and long-term is not optimistic
.
Continue to monitor the evolution
of the epidemic.
It is expected that the decline of Shanghai aluminum will slow down, or repeatedly compete for around 14,000, and operate to buy
a small amount on demand.
