Brief review of the aluminum market on April 16

Domestic futures Shanghai aluminum futures have continued to rise
recently.
As of the close, the main monthly 2006 contract of Shanghai aluminum closed at 12,085 yuan / ton, up 175 yuan
.
Shanghai aluminum maintained its rise for two consecutive weeks, with a monthly increase of more than 4%.

In terms of the market, the price of Chinalco East China AOO aluminum ingots was 11920 yuan / ton, up 100 yuan
.
Domestic electrolytic aluminum enterprises have serious losses, the willingness to reduce production has increased, the current scale of production reduction may reach millions of tons, but the production cost is lower to further expand the scale, the epidemic has a significant impact on downstream consumption, and today's spot aluminum prices may fall
.

At present, the big logic of electrolytic aluminum is still dragging down the global economy by the epidemic, and the excess situation of demand-affected industries remains unchanged, based on this judgment, it is not optimistic about the rebound
brought by the improvement of sentiment in the stage.
In addition, the cost side of alumina continued to fall sharply, alleviating the loss of electrolytic aluminum production, but this price will form a large extrusion effect on high-cost alumina.
There is no support on the cost side
.

At present, the epidemic situation in many overseas countries has reached an inflection point, and market sentiment has recovered and improved, driving the metal rebound
.
However, the follow-up demand pressure will continue to be realized, and the current oversupply situation will not change, and the decline in demand after the low-price replenishment of enterprises will also have negative feedback, not optimistic about the rebound market at this stage
.