Europe’s energy shortage intensified, every other week LUN aluminum continued to rise 1.96%, the largest weekly gain; domestic downstream new consumer orders weak funds tight, but running capacity is still low, the present aluminum up or down limited.
Aluminum futures market]: the continued deterioration of the situation in Russia and Ukraine, making Europe’s energy shortage intensified, every other week LUN aluminum running high, the latest closing offer $ 3840 / ton, closing up $ 74, or 1.96%, the largest weekly gain, the volume of 23,925 hands decreased by 19,510 hands, the position of 682,795 hands increased by 2,757 hands. Friday evening Shanghai aluminum opened low shock, the main month 2204 contract latest closing price 23595 yuan / ton, down 40 yuan, or 0.17%.
London Metal Exchange (LME) on March 4, the latest inventory of LUN aluminum reported 794,150 metric tons, down 6,950 metric tons or 0.87% from the previous trading day.
Changjiang Aluminum Network: March 4 spot aluminum prices, Changjiang non-ferrous network spot AOO aluminum ingot price of 23440 yuan / ton, down 110 yuan; Chinalco East China AOO aluminum ingot price of 23440 yuan / ton, down 100 yuan. Domestic downstream new consumer orders weak funds, and currently more to consume orders before the Spring Festival, so demand recovery is not too ideal, this or limit the upside of aluminum prices, but the running capacity is still low, coupled with China’s two sessions to deliver good news to boost the market, as well as inflationary expectations to strengthen, still able to drive the market risk sentiment, the current aluminum up or down today is limited.
Post time: Mar-07-2022