Brief review of the aluminum market on April 21

Today's Shanghai aluminum main month 2006 contract opened at 12290 yuan / ton, the highest intraday 12315 yuan / ton, the lowest 12005 yuan / ton, settled 12135 yuan / ton, and closed at 12105 yuan / ton, down 245 yuan
.
The weakening of fundamental supply and demand has not changed, and today Shanghai aluminum is under pressure and falls, and there is still supply pressure in the later period, and the probability of weak trend is greater
.

In terms of news, data released by the International Aluminium Association (IAI) on Monday showed that global primary aluminum production increased to 5.
477 million tons in March, compared with 5.
145 million tons
revised in February.
China's primary aluminum production forecast rose to 3.
1 million mt in March, revised to 2.
909 million mt
in February.

With the recovery of the financial market, the market risk appetite has improved, coupled with the slow recovery of domestic downstream market demand and the hoarding sentiment of some manufacturers, the social inventory of aluminum ingots has exceeded expectations and destocked, and aluminum prices have been strongly repaired; However, with the rise in aluminum prices and the decline in raw material prices, the losses of aluminum enterprises have narrowed significantly, and the willingness of electrolytic aluminum enterprises to reduce production has gradually decreased, and aluminum prices are still dominated by the trend of shock and stability in the short term, cautiously chasing higher; The main force of Shanghai aluminum is temporarily concerned about oscillating around 12,300, and the upper focus is on the 12,500 pressure level
.