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Last week, the Shanghai aluminum shock pattern did not change, the overall upward trend still exists, the main force of the week once soared to 17955, approaching the 18,000 mark, but the high resistance is strong, failed to effectively stand firm, then returned to the 1.
73-17,700 range of high oscillation, as of the close, a cumulative increase of 0.
6%
from the previous week.
Last week, Lun aluminum fluctuated upward, and aluminum prices broke new highs during the week, rising to around 2250 during the session, a cumulative increase of 1.
5% over the previous week; Recently, US Treasury yields have been soaring, although the Fed has made it clear that it will maintain low interest rates and bond purchases, but market concerns remain, aluminum prices are blocked, but under the support of the overall preference of macro sentiment, London aluminum may continue to be strong, can continue to pay attention to the 2150-2250 range fluctuations
.
In terms of the market, the price of aluminum ingots is unstable, downstream enterprises are more cautious in purchasing, and a small number of goods are mainly received at low prices, and traders' enthusiasm to enter the market has increased, driving market transactions
.
East China: As of March 18, China's 8 mainstream consumption areas electrolytic aluminum inventory has reached 1.
25 million tons, still in an upward trend, suppressing aluminum price trends, last week electrolytic aluminum rushed back down, East China spot rose to 17780 yuan / ton, as of Friday, the price between 17380-17420 yuan / ton, up 30 yuan / ton month-on-month, spot discount 30
。 South China: As of Friday, the price of Foshan Nanhai aluminum ingot with tickets was between 17630-17730 yuan / ton, up 90 yuan / ton from the previous month, the performance was better than that in East China, the holders of more stable shipments, the market supply is abundant, the overall performance is oversupply, downstream enterprises just need to stock, the transaction is average
.
At present, in terms of macro, driven by a series of policies such as "carbon neutrality", on the one hand, the production capacity of aluminum enterprises may narrow this year, and the supply side is in short supply, and on the other hand, emerging industries may rise again, demand may continue to rise, and the upside of aluminum prices in the medium and long term is large; However, in the short term, it is suppressed by high prices, the enthusiasm of downstream goods is weakened, inventory continues to accumulate, aluminum prices may still continue to fluctuate at a high level, and the pressure of 18,000 places above remains, and the main focus is on fluctuations in the range of 1.
7-17,800
.
