The simultaneous rise of US crude oil boosted bullish confidence, with London Aluminum rising 0.68% for three consecutive days overnight; The easing of the international trade situation has boosted the metal market, with demand resilience showing and continued destocking of the stock market. It is expected that aluminum prices will continue to rise today.
Aluminum Futures Market: The simultaneous rise of US crude oil stocks boosted bullish confidence and helped metal prices strengthen. Overnight, Lunan Aluminum rose strongly and closed with a strong bullish trend. The latest closing price was $2460/ton, up $17, or 0.68%. The trading volume decreased by 11066 lots from 16628 lots, and the holding volume increased by 2277 lots from 694808 lots. In the evening, the trend of Shanghai aluminum first suppressed and then rose, with a strong ending trend. The latest closing price of the main monthly 2506 contract was 19955 yuan/ton, up 50 yuan, or 0.25%.
On April 24th, the latest inventory of London Metal Exchange (LME) aluminum was reported at 423575 metric tons, a decrease of 2025 metric tons or 0.48% from the previous trading.
On April 24th, the spot aluminum price of Changjiang Comprehensive Spot A00 Aluminum Ingot was reported at 19975 yuan/ton, an increase of 70 yuan; The price of A00 aluminum ingots from China Aluminum East China is reported at 19980 yuan/ton, an increase of 70 yuan. The easing of the international trade situation boosted the metal market, and the US dollar index fell after President Trump abandoned his threat to dismiss the Federal Reserve chairman. Fundamentally, the resumption of production in the southwest on the supply side is nearing completion, and the short-term operation of electrolytic aluminum production is relatively stable. In terms of demand, the resilience of terminal demand is evident, and aluminum primary processing is still in the peak season. The operating rate of enterprises is running at a high level, and the casting of ingots in smelters fluctuates narrowly. The recent concentrated delivery of power grids has led to a sustained recovery in demand for aluminum wires. Under various national trade in policies, the demand for air conditioning foil and battery foil is strong, and social inventory continues to decline. In addition, recently Trump has released a “goodwill” signal, and macro sentiment has improved, helping to promote a restorative rebound in aluminum prices and predicting a continued rise in aluminum prices.
Post time: Apr-28-2025