Aluminum market trend
According to the data of business agency, as of May 6, the average market price of domestic aluminum ingots was 12996.67 yuan / ton, up 12.756% from 11526.67 yuan / ton at the beginning of the month (April 1).
| EDTA |
It is reported that the external quotation of Chinalco in various regions has exceeded 13000 yuan / ton. In the near future, the rise of cash to futures has continued to increase. As of May 6, the closing price of Shanghai aluminum 2006 was 12740 yuan / ton, and the settlement price was 12700 yuan / ton.
Supply and demand improved in April
Domestic aluminum consumption has increased substantially with the overall expansion of resumption of production. According to relevant data, the domestic aluminum supply in April was 2.9-2.95 million tons, a decrease of about 100000 tons compared with March; the domestic aluminum consumption in April was 3.3-3.35 million tons, an increase of about 580000 tons compared with March.
Domestic social inventory moves down
In April, the supply and demand side improved and the domestic social inventory moved down. On April 30, the spot inventory of domestic aluminum ingots was 1.204 million tons, which was about 460000 tons less than that in March.
Industrial chain transmission downstream starts to increase price sales
| Melamine |
With the rise of spot aluminum price and the recent purchase cost of aluminum ingots in the downstream, the price of downstream products began to rise. It is reported that downstream processing enterprises have a strong willingness to raise prices in the near future, and many manufacturers send red headed documents to inform customers of price increases.
Future forecast
At present, the price of aluminum contracts in the futures market is higher than that of forward contracts in the near future, and the futures market is expected to be short, mainly based on the consideration of import and export factors. The fundamentals of supply and demand in the domestic market have been effectively improved, social inventory has continued to move down, and the current price has risen, partially easing the pressure of domestic high-cost aluminum ingot manufacturers. In the second quarter, domestic demand is expected to warm up, and in the later period, it will be mainly stable and strong operation. Ye Jianjun, an analyst of the business society, will maintain the original forecast, and will be mainly vibrating in the range of 12500-13500 yuan / ton in May.
Later focus:
Real estate completion cycle and policy support for wire and cable industry
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