Aluminum prices rushed back down and the pressure above was greater

In terms of spot, Shanghai trading concentrated 14180-14220 yuan / ton, the discount for the month was 160-140 yuan / ton, Wuxi transaction concentrated 14170-14220 yuan / ton, Hangzhou transaction concentrated 14200-14230 yuan / ton
。 In the first trading session, the high volatility of aluminum in the future, as well as the factors at the end of the month, the willingness of holders to ship at the high is positive, the quotation transaction is 14180-14190 yuan / ton, the end of the first trading session, the low level of aluminum rises, traders are willing to receive goods positively, triggering the holder to raise the price to sell, the transaction concentration is 14200-14220 yuan / ton, the second trading session, the aluminum repeatedly oscillates, the holder closely follows the price adjustment, the quotation is concentrated 14220-14200 yuan / ton, the willingness of traders to receive the goods converges, the May Day holiday is coming, Downstream enterprises have stable procurement, and the overall transaction is more active
.

In terms of inventory, during the day, the aluminum inventory in the previous period was 326903 tons, an increase of 99 tons
from the previous trading day.
As of April 25, LME aluminum stocks were 1668925 tons, down 9,325 tons
from the previous session.
Aluminum alloy inventory was 15,080 tons, unchanged from the previous trading day
.

In terms of news, according to the overall arrangement of the national special action to clean up and rectify the construction of illegal and illegal projects in the electrolytic aluminum industry, recently, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Land and Resources, the Ministry of Environmental Protection and other ministries and commissions have supervised and inspected the construction of electrolytic aluminum projects in Xinjiang Autonomous Region, and investigated the electrolytic aluminum enterprises of the XPCC
.
The research group visited the Sixth Division Coal Power Company and the Eighth Division Tianshan Aluminum Company to inspect the production site, held a symposium, learned about the relevant situation, and fully affirmed
the construction and management of the project of the electrolytic aluminum industry of the XPCC.
At present, the XPCC's electrolytic aluminum production capacity is 3.
3 million tons, which is concentrated in two enterprises, including 1.
9 million tons of Sixth Division Coal Power Co.
, Ltd.
and 1.
4 million tons
of Eighth Division Tianshan Aluminum Company.
The electrolytic aluminum projects of the two XPCC enterprises have passed the national compliance audit, and the production and operation are normal and stable
.

In terms of industry, data released by the General Administration of Customs showed that China's primary aluminum exports in March fell 91.
44% year-on-year to 445 tons, and the cumulative export volume of primary aluminum from January to March fell 94.
9% year-on-year to 679 tons
.
China's primary aluminum imports rose nearly 197.
6 percent year-on-year to 9,935 tonnes
in March, data released by the General Administration of Customs on Tuesday.
From January to March, the cumulative import volume of primary aluminum increased by 209.
2% year-on-year to 43,860 tons
.
The China Nonferrous Metals Industry Association expects China's electrolytic aluminum production to increase by 10.
3% this year compared with the previous year; It is expected that China's electrolytic aluminum market will have a slight surplus of 230,000 tons this year, and the global electrolytic aluminum market will continue to be in shortage
.

Comprehensive research and judgment: spot, futures inventory and electrolytic aluminum production increased, putting pressure on aluminum prices, but capacity expectations and production costs supported aluminum prices
.
Technically, the 5-day moving average turns upward, and the daily K-line has a long upper shadow, indicating that the upper pressure is large, and it is expected that the main force of Shanghai aluminum 1706 short-term high oscillation, operating range 14200-14500
.