On March 24th, Shanghai Futures Aluminum opened at 18330; Closing: 18480; Settlement price: 18395; Up 200; On March 24th, LME Lunlu's lowest price: 2312, highest price: 2364, closing price: 2344, up 18
Weekly Review of Aluminum Price of Galaxy Futures: Yellen changed his mouth for the second time, saying that the US government is prepared to take "more actions to ensure the safety of American deposits" on bank deposits when necessary; After the HSBC transaction, the UK subsidiary of Silicon Valley Bank experienced an inflow of funds; Macro sentiment has gained a breathing opportunity after the US and European interest rate hikes boots landed; In terms of industry, on Thursday, the inventory of aluminum ingots and aluminum rods was significantly reduced, far exceeding market expectations. The inventory of aluminum ingots was removed from 50000 to 1094000 tons, the weekly inventory was removed from 88000 tons, and the inventory of aluminum rods was removed from 13500 to 19000 tons. In addition to a certain degree of resilience in demand, the main factor for the inventory removal is that the current supply reduction, aluminum liquid conversion rate improvement, waste aluminum tension, aluminum ingot casting rod conversion, and other factors in the southwest region have brought good emotional support; In terms of trading strategy, the current macro atmosphere has stabilized, and the shackles of curbing aluminum prices have temporarily receded. Shanghai Aluminum may maintain a rebound trend in the short term.
Next Monday's aluminum price analysis and forecast:
This week, the price of aluminum in Nanhai Changjiang River was mixed, slightly increasing compared to last week. The Federal Reserve's efforts to increase interest rates due to bank failures have decreased, which meets market expectations. The recovery of downstream aluminum processing enterprises will have some support for aluminum prices. Next Monday, the price of aluminum ingots in Nanhai Lingtong and the price of non-ferrous spot aluminum in Changjiang River will not change much or increase slightly. Information is only for reference.
