Reduced inventory pressure is expected to reactivate aluminum market
2018-04-15 10:00:43
Driven by fund buying, LME aluminum futures closed above US$2,000 on Thursday and reported to 2014. Driven by the favorable external market price, Shanghai Aluminum continued to rise today. The midday gain was generally at the level of 30-120 yuan, and the contract for the month rose 30 yuan to 17,150 yuan. At present, the sentiment in the current period has recovered somewhat, and the trading volume and open interest have increased slightly. In recent days, as LME aluminum stabilized, Shanghai aluminum's oscillatory center of gravity is expected to move up.
Affected by the positive impact of futures prices, today's aluminum market price in Guangdong has generally risen by about 50 yuan compared with yesterday. Current suppliers and traders' attitudes on reluctant sellers appear to have increased. Their quotation is generally more insistent, while the actual market transaction range is slightly. Below the quotations, about 17060-17180 yuan / ton level, the trading situation is relatively stable.
This week, domestic zinc prices have fallen more than once. In the early period, as zinc prices continued to rise, the profit margin of traders for importing zinc operations increased significantly. Therefore, many traders ordered zinc ingots in the international market and pushed the LME zinc futures higher. Recently, as a large number of imported zinc ingots arrived in the port one after another, domestic zinc prices have been significantly affected. This week, the cumulative decline in zinc prices in the Shanghai market has reached 500 yuan/ton. The lower zinc price in the Shanghai market has caused zinc prices in the Guangdong market to be significantly suppressed. In addition, the current stock of zinc ingots is already above 10,000 tons. Due to the increase in inventory pressure, the kinetic energy of zinc prices has increased significantly. It is expected that before the domestic market can effectively absorb the pressure brought by imported zinc ingots, there will still be some room for decline in zinc prices.
Affected by the positive impact of futures prices, today's aluminum market price in Guangdong has generally risen by about 50 yuan compared with yesterday. Current suppliers and traders' attitudes on reluctant sellers appear to have increased. Their quotation is generally more insistent, while the actual market transaction range is slightly. Below the quotations, about 17060-17180 yuan / ton level, the trading situation is relatively stable.
This week, domestic zinc prices have fallen more than once. In the early period, as zinc prices continued to rise, the profit margin of traders for importing zinc operations increased significantly. Therefore, many traders ordered zinc ingots in the international market and pushed the LME zinc futures higher. Recently, as a large number of imported zinc ingots arrived in the port one after another, domestic zinc prices have been significantly affected. This week, the cumulative decline in zinc prices in the Shanghai market has reached 500 yuan/ton. The lower zinc price in the Shanghai market has caused zinc prices in the Guangdong market to be significantly suppressed. In addition, the current stock of zinc ingots is already above 10,000 tons. Due to the increase in inventory pressure, the kinetic energy of zinc prices has increased significantly. It is expected that before the domestic market can effectively absorb the pressure brought by imported zinc ingots, there will still be some room for decline in zinc prices.