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This week, Shanghai aluminum ushered in the first wave of sharp rebound after a continuous plunge, the main force once rose back above 19600, but due to the limited positive stimulation, the upward momentum is seriously insufficient, as of Friday, the main force of Shanghai aluminum closed at 19315, the weekly cumulative increase of 3.
4%.
This week, Lun aluminum bottomed out, the overall trend is good, the lowest intraday fell to near the 2500 mark, but as the market sentiment eased, aluminum prices once again rushed above 2600, as of Friday, the cumulative increase of about
3.
5%.
In terms of spot, power cuts in many places have been canceled, but due to price instability and the influence of orders, downstream enterprises have a heavier wait-and-see atmosphere, and they just need to stock up
.
In South China, as of Friday, the price of Foshan Nanhai aluminum ingot with tickets was between 19630-19730 yuan / ton, up 680 yuan / ton from last Friday, an increase of 3.
6%, less than that of
East China.
The local market is relatively abundant, the demand is weak, the downstream aluminum processing enterprises are insufficient, and the market transaction is limited
.
East China, the market's pessimistic expectations for the real estate industry have been repaired, the US trillion-dollar infrastructure bill boosted market confidence, but the plunge in raw material coal still dragged down aluminum prices, under the long-short game, this week's electrolytic aluminum price fluctuations are still more violent, East China spot aluminum operating range 18490-19450 yuan / ton, as of Friday the price is 19410-19450, up 780 yuan / ton from last Friday, an increase of 4.
2%.
There was a gradual trend of improvement in the fundamentals during the week, the social inventory turned from rising to falling for the first time, and the inventory inflection point is suspected to be coming; Coupled with the relaxation of power rationing policies across the country, downstream productivity has gradually recovered, consumption is in a continuous improvement, under the promotion of various favorable promotions in recent days aluminum prices have a continuous rebound trend, but considering the short-term continuation of the supply and demand side of the double weak pattern, coupled with the weak macro performance under inflationary pressure, the follow-up Shanghai aluminum or still has the possibility of downward exploration, the current aluminum price in 20,000 pressure is still large, pay attention to the shock range of 1.
85-19,500
.
