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Trade Service
The trade dispute between China and the United States during the Qingming Festival holiday has re-fermented, but the possibility of rapid deterioration in the short term is low, and Sino-US negotiations have begun
.
The current stage of the trade war has a low impact on non-ferrous metals, and the fundamentals of non-ferrous metals have not changed much
.
For aluminum, the focus of Sino-US contradictions has shifted, and the current focus is on agricultural products, and aluminum prices have rebounded
in retaliation.
Aluminum prices rose sharply during the holiday, and Lun aluminum continued to soar
at the open today.
Considering that Shanghai aluminum is stronger than Lun aluminum recently, Shanghai aluminum is expected to open sharply higher today back to the 14000-14500 range
.
In the short term, Shanghai aluminum may rush upwards to the 60-day moving average of 14350 and 14500 medium-term pressure
.
In terms of news, Sino-US trade disputes intensified during the holiday season
.
On the morning of April 6, Trump asked to consider additional tariffs
on $100 billion of Chinese goods.
That night, the Ministry of Commerce said that if the United States announces the list of new 100 billion taxed products, China has made full preparations and formulated very specific countermeasures, and will not hesitate to immediately carry out a vigorous counterattack
.
But on the evening of 4.
8, Trump tweeted that China and the United States have begun negotiations and are optimistic
about the future outlook.
In terms of the market, the pre-holiday spot market transaction declined, as the downstream basically completed the holiday stocking, traders' enthusiasm for receiving goods also declined, and the holders worked hard to ship, and the overall transaction declined
.
The mainstream price in Shanghai is about 13970 yuan / ton, which is about 40 yuan higher than the current month, and the mainstream price in Guangdong is around 13980 yuan / ton
.
Domestic downstream construction continued to pick up, consumption continued to pick up, supply upward momentum slowed down, due to the overall slowdown in production speed, fundamentals continued to improve, conducive to the Shanghai period aluminum stabilization and rebound
.
