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Last week, aluminum internal and external disks are in a "V" pattern trend operation, spot aluminum mainstream price is about 18870, the market long and short news is intertwined, the US August CPI data exceeded expectations, inflation pressure is greater, but Yunnan electrolytic aluminum plant recent production reduction continues, supply concerns continue, so the week aluminum price volatility is greater, pay attention to the results of the Federal Reserve meeting, aluminum prices or show a trend of first and then rise
.
In terms of the market, downstream enterprises entered the market after the holiday to replenish goods, but most of them were mainly bought on demand, and some merchants held a wait-and-see attitude due to futures delivery during the week, and the overall transaction was not as good as last week
.
East China: Shanghai aluminum market closed on Monday due to the Mid-Autumn Festival holiday, only 4 trading days; After the holiday, aluminum prices fluctuated and fell, and then under the impetus of the news of the production reduction of Yunnan electrolytic aluminum enterprises, it ushered in a rise and recovered the decline of the previous two days; During the week, the overall performance of spot aluminum prices in East China first fell and then rose, and the fluctuation range slowed down compared with before the holiday; As of Friday, the price was 18850-18890 yuan / ton, up 70 yuan / ton from the previous month, and the spot discount was 50 yuan
.
South China: As of Friday, the price of Foshan Nanhai aluminum ingot tickets was between 19110-19210 yuan / ton, up 70 yuan / ton from the previous month, and the price difference between East China and South China aluminum ingots has widened to 290 yuan / ton; Downstream enterprises are still mainly based on just needing to replenish inventory, and some cities in South China have affected transactions
due to the epidemic.
At present, the weak supply side is obvious, coupled with the subsequent face of the southern dry period and the northern heating season, the uncertainty of the supply side has increased greatly, and the price has rebounded to around
19,000.
However, traders are bullish and cautious, downstream orders have not shown obvious signs of improvement, and the market is still
dominated by just-needed purchases.
The Fed's interest rate meeting is approaching, and before the results land, the trend of Shanghai aluminum is still unstable, and it is expected to fluctuate mainly between 1.
85 and 19,200
.
