Copper and aluminum fluctuated at a high level, and heavy rare earth prices rebounded
Copper: as of April 20, Shanghai copper closed at 74480 yuan / ton, with a weekly change of 0.61%; The inventory closed at 474.33 million tons, with a weekly change of 35.50%.
Aluminum: as of April 20, Shanghai aluminum reported 21790 yuan / ton, with a weekly change of 2.44%; The inventory reported 187514 million tons, with a weekly change of 0.50%.
Rare earth permanent magnet: as of April 20, praseodymium oxide (lowest price) closed at 860000 yuan / ton, with a weekly change of – 2.93%; Neodymium oxide (lowest price) closed at 873000, with a weekly change of – 2.24%; Praseodymium neodymium oxide (lowest price) closed at 840000 yuan / ton, with a weekly change of 3.45%; Dysprosium oxide (lowest price) closed at 2580 yuan / ton, with a weekly change of 6.17%; Terbium oxide (lowest price) closed at 14070 yuan / ton, with a weekly change of 10.87%.
Investment suggestion: the impact of the epidemic on transportation has been alleviated, and the aluminum inventory has rebounded slightly. The reduction of reserve requirement improved the demand expectation, and the aluminum price rebounded slightly. With the recovery of aluminum price and the decline of coal price in the off-season, the profit of electrolytic aluminum is thickened. Pay attention to Yunnan Aluminium Co.Ltd(000807) .
Risk tip: the global economic recovery is less than expected; US inflation remains high; The production and sales of new energy vehicles are lower than expected; The energy crisis eased more than expected; Less than expected demand for magnetic materials
