April 7 Shanghai aluminum morning review

In terms of the market, in the morning spot market holders with the futures price fluctuations gradually changed from active cash exchange to sale, the downstream wait-and-see atmosphere is still strong, Shanghai mainstream price 13820-13840 yuan / ton, discount maintained at 150 yuan / ton, Guangdong mainstream price 13870-13880 yuan / ton
.
Related news speculation and policy control capacity expectations are difficult to support prices to continue to rise, while spot inventories climbed and reached new highs, oversupply intensified obviously, short-term aluminum prices high fall probability is large, but it is still difficult to fall
sharply.
Operationally, it is recommended to wait and see, and sell a small amount of short
at the high.

In terms of inventory, SHFE aluminum futures inventory increased
.
Aluminum futures inventories in SHFE's designated delivery warehouses increased by 99 tonnes to 281688 tonnes
.
Among them, Shanghai inventory decreased by 0 tons to 37,096 tons; Guangdong stocks increased by 0 tons to 36,299 tons; Jiangsu inventories increased by 99 tons to 151284 tons; Zhejiang inventory construction increased by 0 tons to 28,130 tons
.

Shanghai aluminum has been strong recently, and there is a possibility of
challenging the previous high.
However, domestic inventories in the aluminum market continue to increase, and the fundamentals are not optimistic
.
In the near future, it is still necessary to pay attention to environmental protection policies and the development of
the Weiqiao incident.
At present, the aluminum price has been on the high side, and the long positions recommended before the holiday continue to be held, but they need to be treated with caution in the further upward process, and 1706 falls below 10,000 to take profit and turn over the short position
.