Recently, LME aluminum in March, supported by the depreciation of the US dollar and declining inventory, hit a new high of US$ 2016.10 in 10 years and currently fluctuate within a narrow range around US$2,000. Shanghai Aluminum oscillated at a high level under the lead of copper. The data released by the US Department of Commerce shows that in the fourth quarter of last year, the current account deficit of the United States increased to a record high of 187.9 billion U.S. dollars, and the annual deficit rose to a record high of 665.9 billion U.S. dollars. In January this year, the U.S. trade deficit widened to 58.27 billion U.S. dollars, which is close to the historically high record, and the U.S. dollar fell again. All countries in the world continued to see strong growth in crude oil consumption. The price of crude oil rose to a new high of US$57.50. The rise in oil prices drove the prices of other commodities to rise in a straight line. The CRB commodity index rose to a new high in 24 years. LME aluminum prices in March rose to a 10-year high of 2016.5 US dollars/ton. The supply of aluminum ingots in Europe and the United States was tight, and the spot premium was firm. Japanese traders' finalized second-quarter aluminum imports increased from US$79-80/ton, which was a decrease of 5% from US$86-87/ton in the previous quarter. As of the end of last week, LME aluminum stocks have steadily declined to 563,000 tons, which is the lowest level in recent years. However, the high level of international aluminum prices has attracted some idle aluminum production capacity to restart. A few days ago, Alcoa stated that it plans to start one or two production lines of its Valco aluminum plant in Ghana in June this year. Domestic commodity prices have generally risen recently. According to the data released by the National Bureau of Statistics, domestic fixed investment remains high, the pressure of rising prices has not eased, and the overheating of the economy has not completely changed. Domestic electrolytic aluminum output reached 557,000 tons in February, an increase of 17.4% year-on-year; average daily production was 19,200 tons, which was much higher than the level of 15,400 tons in January, and was also higher than the average daily output of 18,000 tons in most of last year. Since some new capacity is still put into operation in the first half of this year, domestic electrolytic aluminum is expected to maintain a certain growth rate throughout the year. Alumina's resources also increased significantly. The amount of alumina resources in January-February was 2.378 million tons, a year-on-year increase of 27.6%. Among them, domestic production was 1.228 million tons and imports were 1.15 million tons, of which imports reached 71 million tons in February. Recently, the shipment of aluminum ingots in the Nanhai area of ​​Guangdong is still restricted by the railways, and the inventory of local aluminum ingots continues to decline. With the start of downstream manufacturers, consumption of aluminum ingots in the Guangdong region began to rise. Insufficient stocks stimulated spot aluminum prices from 16,500 yuan/ton to 16,850 to 16,950 yuan/ton. Inventories of major stockpiling sites in Shanghai, spot aluminum prices hovered at 16,250 yuan / ton, the huge price difference between the two cities has attracted some traders to Shanghai aluminum ingot shipped to the South China Sea area in Guangdong, part of the electrolytic aluminum plant also organized a special train south, Shanghai The spot pressure in the region was relieved accordingly, and it rose back to yuan/ton. LME March aluminum faced heavy selling pressure at more than 2,000 US dollars/ton, especially the US dollar is expected to rebound from the low position and cause the fund to take profit. Therefore, the aluminum price of aluminum will maintain its current consolidation pattern in the short term. Domestically, changes in aluminum ingot inventory in the Nanhai region of Guangdong are still the focus of attention. If aluminum ingots are shipped to the region in large quantities this week, spot aluminum prices will undoubtedly be affected. However, due to the high production cost of domestic aluminum ingots and the very low price of international aluminum prices, it is expected that the Shanghai aluminum future will run around 16,500-17,200 yuan/ton.
Pan Head Screw,Pan Head Sharp Screw,Phillip Pan Head Sharp Screw ,Pan Phillips Head Screw
Handan Jiankun Hardware Products Co., Ltd / Handan best import and export trade co., Ltd , https://www.jkscrew.com