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The Shanghai aluminum main 2006 contract opened at 11830 yuan / ton in the morning, and after the opening, the long position increased to help the market continue to rise, and the high pierced 10,000 yuan after falling slightly, closing at 11950 yuan / ton, the high in nearly four weeks
.
The Shanghai-aluminum 2004 contract closed at 11,960 yuan / ton, up 180 yuan / ton, or 1.
53%,
from yesterday's close.
This week, the scale of maintenance and production reduction of aluminum plants in Liaoning and other places increased, aluminum consumption picked up in stages, and social inventory fell more than expected to promote the rebound
of aluminum prices.
However, due to the unoptimistic order situation in the second quarter and doubtful consumption sustainability, the industry's huge inventory is still difficult to digest
.
The global epidemic continues to ferment, manufacturing activities are halted, and the IMF expects the global economy to shrink by 3% this year, and overseas non-ferrous metal demand is severely
damaged.
As alumina fell to around 2,000 yuan / ton, the cost of electrolytic aluminum sank, and the cash loss scale was less than 20%.
It is expected that Shanghai aluminum will continue to strengthen and have greater resistance, and it is recommended to wait and see for the time being or test the short
position lightly.
