April 14 aluminum market morning review

As of the close of 3 p.
m.
, the main 2006 contract of Shanghai aluminum closed at 11755, down 10, or 0.
08%;

The market continued to be closed on Monday
.
The domestic morning spot market is actively trading, middlemen are actively receiving goods, holders are slightly up, and downstream purchases
are on demand.
The mainstream trading price in Shanghai is 11,800 yuan / ton, which is about 10 yuan / ton higher than the futures price
.
The mainstream transaction price in Guangdong is 11830 yuan / ton
.
The recovery of the domestic terminal market has promoted the improvement of consumption, and the domestic aluminum ingot market has recently entered the destocking stage, which has obvious support
for aluminum prices.
Not enough to be suppressed by the sharp contraction in exports, while domestic costs have fallen sharply, smelters' willingness to cut production has declined, and the rebound in aluminum prices has also been hindered
.

Boosted by stimulus policies, market sentiment has recovered, but the current core contradiction of aluminum prices is still concentrated on epidemic control
.
The epidemic situation abroad continues to deteriorate, and judging from the number of new confirmed cases, the overseas epidemic situation has no easing trend
.
The worsening of the overseas epidemic has led to a contraction in foreign consumption, and aluminum exports have been restricted
.
Although the growth rate of electrolytic aluminum social inventory has slowed down, the total inventory has climbed to 1.
607 million tons, and high inventory still puts greater pressure
on aluminum prices.
It is expected that aluminum prices will still be difficult to improve in the short term, and the overall trend will be slightly stable, and the main force of Shanghai aluminum will temporarily focus on the volatility around 1.
17-11,900
.