Aluminum prices continued to fall this week

According to the data of business agency, the average price of domestic aluminum ingots in East China market on March 31 was 22640 yuan / ton, a daily drop of 0.44%, down 1.66% from the average price of domestic aluminum ingots in East China market on Friday of 23023.33 yuan / ton

Based on the peak value in 2021 (October 19, 2021), the average market price of aluminum ingot is 24240 yuan / ton, which has fallen 6.60% from the peak value recently. Starting from the recent recovery (December 13, 2021), the average market price of aluminum ingot is 18693.33 yuan / ton, up 21.11% recently.

Analysis on the main causes of slight correction during the week

In terms of fundamentals, although the energy price in Europe is at a high level and the reduction of overseas aluminum ingot production is still expected, the aluminum price has been driven up in the early stage and is currently at a relatively high level. In terms of demand, the downstream operating rate of domestic aluminum ingots is affected by traffic factors, and the operating rate of aluminum profiles, aluminum plates and foils has rebounded; In terms of inventory, social inventory has been slightly removed recently. The slight correction during the week was mainly due to the high aluminum price driven by the early external market, which hit a wall at the actual demand end.

Future forecast

It is expected that the aluminum price will continue to be suppressed by the 23000 mark. Under the long short game, the upward space will be narrowed, and the stable and weak shock operation will be dominated.