1. List of aluminum ingot prices
According to data from SunSirs, the average price of domestic aluminum ingots in East China on November 27 was 16,346.67 yuan/ton, which was an increase of 10.13% from the average market price at the beginning of the month (November 1) of 14,696.67 yuan/ton; 1st) 14553.33 yuan/ton, an increase of 12.32%; compared with the average market price during the year (March 24) 11230 yuan/ton, an increase of 45.48%.
2. Recent bullish factors
1) Driven by macro factors
This month, the Regional Comprehensive Economic Partnership Agreement (RCEP) was signed to superimpose the domestic economy to maintain exceeding-expected growth or to become the only positive growth country in the major economies. The news of the success of vaccines overseas will offset the current deterioration of the overseas epidemic. In the medium term The expectation is strengthened to boost the expectation of foreign industrial demand. The policy aspect and the expectation of large-scale international stimulus policies are still in place, igniting the enthusiasm of capital to do more non-ferrous sectors.
2) Good supply and demand orientation
The social inventory of electrolytic aluminum continues to fall, the domestic downstream demand is strong, and the supply and demand orientation is good. On the other hand, domestic manufacturing investment is rising steadily. With the impact of the vaccine progress news, the relatively lagging overseas market is expected to temporarily form.
3) Investment needs to be strong
The risk appetite for market funds rose in November, and other domestic markets such as the stock market and futures market showed a significant upward trend as a whole. The linkage between the futures and the current market has boosted aluminum prices.
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