Brief review of the aluminum market on May 15

Today's Shanghai aluminum main 2007 contract opened at 12540 yuan / ton in the morning, the opening K line lower shadow tested 12515 yuan / ton intraday low, intraday shock upward, three times rushed high three times fall, the afternoon high stopped at 12630 yuan / ton intraday high, the final sinking final close at 12600 yuan / ton, the trading volume increased 6181 hands to 92705 lots, the position increased 4656 hands to 154,000 hands, closed at the small white line, up 115 yuan / ton, or 0.
92%, It is expected to maintain range-bound volatility in the evening and continue to test the size of
the space above.

Shanghai aluminum rebounded against the trend during the day, as of the close of 3 pm, the main force of Shanghai aluminum closed up at 12600, up 115, or 0.
92%; The short-term aluminum market maintains the strength of destocking to support aluminum prices, while the upcoming two sessions or aluminum prices have a further promotion effect, the price of aluminum is expected to fluctuate strongly, in the medium term due to the continuation of the overseas epidemic, aluminum prices face import impacts, fundamentals are still not good, the operation can wait and see, it is expected that next week aluminum prices will stabilize, or there may
be a small rise.

At present, the profit of electrolytic aluminum smelting has returned to a high level, which makes the domestic electrolytic aluminum production capacity start production again
.
At present, the rapid decline in electrolytic aluminum inventories has supported aluminum prices, but with the release of production capacity, supply pressure will be probable
.
Therefore, although Shanghai aluminum is still in the rally, the subsequent rise may be limited, and it is necessary to pay attention to the risk
of falling after approaching 10,000.