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Last week, the dollar remained strong, Shanghai aluminum intraday lowest to 13,780 yuan / ton, a new low in nearly 7 months, but due to the electrolytic aluminum plant production reduction expectations heating up, aluminum price bottom support is more obvious, Shanghai aluminum then stopped falling and rebounded, again tested the 14,000 mark, as of Friday's close at 13,900 yuan / ton
.
Due to the simultaneous production reduction and production, the market performance is relatively cautious, the upward momentum of Shanghai aluminum is insufficient, the trend is still weak, it is difficult to make a big breakthrough in the short term, temporarily treated with a volatile market, and further growth still needs more favorable stimuli
.
The expected operating range is 1.
37-14,300.
In terms of the external market, the news of the closure of Hydro Alunorte has been repeated repeatedly, the market is more cautious, it is difficult to have a hype theme, coupled with the recent increase in LME aluminum inventory, the trend of Lun aluminum is under pressure, the center of gravity of Lun aluminum in the week continues to move down, the lowest intraday test is around 1950, hitting a new low since September 2017, and then again tested the 2000 mark failed to stand firm and fall, the market lacks favorable stimulation, short-term is still expected to remain low volatility, concern range 1950-2030
。
East China: East China spot aluminum fell to 13780 yuan / ton in the week, a new low in recent times, some electrolytic aluminum due to cost reasons of loss, production reduction expectations strengthened, coupled with the decline in electrolytic aluminum inventory, aluminum prices stopped falling, but the overall remained at a low level, the upward momentum is insufficient, as of Friday, East China spot aluminum between 13840-13880 yuan / ton
.
In terms of market transactions, holders of goods have insufficient confidence in the future market, shipment enthusiasm is acceptable, it is understood that the current price is at a low level, there are large households in the market to receive goods, driving the transaction, traders fast forward and fast out operation, downstream enterprise demand is weak, bargain hunting demand is the mainstay
.
South China: As of Friday, the price of aluminum ingots in South China was 14160-14260 yuan / ton, slightly inferior to East China; Market trading remained tepid during the week, with weak downstream demand dragging down volume
.
In terms of aluminum rods, the processing fee has not changed much, and the demand for aluminum rods has not improved
.
Inventory: 341,000 tons in Shanghai, 643,000 tons in Wuxi, 98,000 tons in Hangzhou, 78,000 tons in Gongyi, 220,000 tons in Nanhai, 56,000 tons in Tianjin, 25,000 tons in Linyi, 24,000 tons in Chongqing, and the total inventory of aluminum ingots in the place of consumption is 1.
485 million tons
.
Last week, Shanghai aluminum reached a minimum of 13,780 yuan / ton, a new low in nearly seven months, and then stopped falling and rebounded, testing the 14,000 mark again, and closed at 13,900 yuan / ton
as of Friday.
It is expected that there will be a big breakthrough in the short term, and it will be treated as a volatile market for the time being, and more favorable stimulation
is still needed for further rise.
