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Aluminum weekly review: economic growth concerns prices weak shock ( 35 weeks)

by:Deyuan      2020-12-23
One, the aluminum spot trends

the European and American stock market and rising oil prices increase market risk preference, spot prices rose.

domestic aluminium scrap imports fell in July, according to market demand is weak, aluminum limited upside, down slightly.

this week spot aluminium prices generally showed a trend of rise fall after rise first, CCMN, according to the Yangtze river spot AOO aluminum ingots week the average price in 14286 yuan per ton, week fell 2 yuan/ton, after a chang-jiang zhou spot aluminum average price at 14326 yuan per ton, fell 40 yuan/ton, sequential or 0. 3%.

2, aluminum futures trend

are influenced by the global economic slowdown, the multinational manufacturing PMI fell to from offline, weak market demand, the aluminum price pressure drop; Sino-us trade relationship slow promotion commodity market sentiment, aluminum prices rose slightly. This week's aluminum prices hovered ended higher after initially falling trend. Afternoon focuses on $1700 support level.

Alcoa cut global aluminum demand growth forecasts show that poor economic development prospects, the market supply of goods is relatively abundant, but has no obvious downstream purchase intention, aluminium tumult, Shanghai aluminum prices remain volatile.
Shanghai aluminum prices this week to maintain the ups and downs; Shanghai aluminum 1909 week contracts are settled the current month to 14256 yuan, from last week's settlement price drop of about 0. 4%; Weekly decline 0. 24%.

3, aluminum inventory analysis

Aaron aluminum inventory movements in general maintain downward trend this week, the latest inventory to 927000 tonnes, 8200 metric tons, reduce inventory decline about 0. 9%; Shfe al this week a total stock of 361977 tons, 17030 tons less than last week, a drop of about 4. 5%.

this week four, macro information

domestic aspect: in July, the national industrial enterprises above designated size profit rose by 2. 6%, in June for drop 3. 1%, year-on-year growth from negative to positive.

international aspects: August U. S. consumer confidence back slightly, due to the current situation of optimism rose to their highest since late 2000, offset the effects of weaker prospects for economic conditions.

this week five, the aluminium market dynamic

1, Alcoa forecasts global deficit in 2019-1 million tons Between 1. 4 million tons and below 1. 5 million tons - last quarter expected 1. 9 million tons; 1 global aluminum demand growth in 2019. 25% - 2. 25%, lower than last quarter is expected.

2, Russian aluminum produced 1. 867 million tons of aluminium in the first half of 2019, compared to reduce 0. 2%. In addition, the aluminum in the second quarter sales of about 1. 082 million tons of aluminium, add 20 compared with the previous quarter. 8%.

6, aluminium afternoon looking

and sino-us trade relations, the market panic rising inhibit metals demand, weak spot prices this week.

market into the consumption season in August, or improved demand, prices or support, is expected next week, spot prices are expected to rebound.
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