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This week, aluminum prices rose sharply again, with London aluminum rising 4.
7% and Shanghai aluminum rising 4.
56%; The macro situation in the week is still favorable to the upward trend of non-ferrous metals, Lun aluminum rose by more than 100, Shanghai aluminum rose nearly 1,000 in two days, and from the perspective of domestic fundamentals, the trend of supply and demand continued to feed aluminum prices still have a certain possibility of rising, Shanghai aluminum main focus on the range of 1.
95-20,000, London aluminum focus on 2500-2620
.
This week, Lun aluminum broke again, rising as high as 2550 intraday, a cumulative increase of 5.
2% from last week, the largest increase in recent months; Affected by the gradual tension between China and Australia during the week, the market's expectations for future bauxite and alumina imports have shrunk, and aluminum prices have gradually risen; In addition, the current macro liquidity is still strong, inflation expectations still exist, in the short term, Lun aluminum or will maintain the rally, pay attention to the shock range of 2500-2620
.
In terms of the market, the market is abundant, but due to the sharp rise in prices, hitting a high level in the past ten years, traders and downstream enterprises are more cautious in receiving goods, and the wait-and-see atmosphere is strong, which drags down market transactions
.
East China, driven by funds, the market bullish atmosphere is strong, after the holiday aluminum prices continue to maintain an upward trend, and the increase expanded, spot aluminum prices stood on the 19,000 mark after continuing to rise, only two trading days, East China spot aluminum rose to 860 yuan / ton, up 4.
6%, as of Friday, East China spot aluminum between 19670-19710 yuan / ton, spot slightly discounted 60 yuan
.
South China, as of Friday, Foshan Nanhai aluminum ingot ticket price between 19960-20060 yuan / ton, up 880 yuan / ton from last Friday, holders profit shipments increased, but it is understood that in the face of high aluminum prices, downstream enterprises buy in batches on demand, few stockpiling enterprises, market transactions are seriously affected by prices
.
Affected by the May Day holiday, the destocking of domestic inventories slowed down this week, but the overall destocking rhythm is still there, and the fundamentals are still good to support the upward trend of aluminum prices; In addition, the current terminal demand for real estate, home appliances and other terminals is in a stable recovery, and the trend of supply and demand may be maintained; Coupled with macro liquidity easing, short-term aluminum prices may continue to rise, or are expected to break through the 20,000 mark, but the current soaring aluminum prices also have high risks, holders can take advantage of high shipments, downstream on demand a small amount of replenishment; Spot aluminum is expected to continue to rise
next week.
