Aluminum prices ushered in a rebound Beware of the risk of rushing back down

In terms of the external market, last week London aluminum after a new low ushered in a stop rebound, the center of gravity moved up significantly, Monday London aluminum closed for Easter, Tuesday resumed trading, the market's concern about the overseas epidemic weakened, the performance was relatively rational, coupled with a series of policy stimulus, the price rose to 1534 US dollars / ton; It is expected that the short-term trend will remain strong, and there is still room for rebound above; There is still uncertainty about the overseas epidemic, and risk factors remain.

Market: prices have recovered, market confidence has reunited, traders have entered the market more actively, inquiries have increased, and some downstream companies have stocked up, and the overall market transaction has improved compared with the previous week
.

East China: Although the epidemic abroad is serious, but the production reduction of electrolytic aluminum enterprises has brought speculation opportunities to the market, aluminum prices have picked up during the week and have continued to rise, East China spot aluminum returned to 12,000, as of last Friday, the price was 12130-12170 yuan / ton, up 420 yuan from last Friday, continuing the rebound trend
of the previous week 。 South China: As of last Friday, the price of Foshan aluminum ingot strip was 12430-12530 yuan / ton, up 430 yuan / ton from last Friday, and the price difference with East China was slightly narrowed, at 300 yuan / ton; Cargo holders have stable shipments, the market supply is more abundant, and the downstream and middlemen have improved their receiving conditions, driving market transactions
.

Electrolytic aluminum enterprises have reduced production by about 885,000 tons, and the intended production reduction has reached more than one million tons, the scale of production reduction has expanded, giving aluminum price support, Shanghai aluminum rose in response, rebounded for 4 consecutive days, the main 2006 contract exceeded 12,000 in one fell swoop, the highest rose to 12430, as of Friday's close at 12410, a weekly increase of 4.
77%; Electrolytic aluminum destocking continues, superimposed on the storm of electrolytic aluminum production reduction, the market atmosphere has turned good, short-term Shanghai aluminum still has upside, next week or will stand on the 12,500 mark; but considering that the current overseas epidemic is still not under control, downstream demand is weak, beware of the risk of price rushing down
.