Fundamentals have not improved significantly Shanghai aluminum continues to operate in a range

This week, Lun aluminum opened at 1480 US dollars / ton, closed at 1484 US dollars / ton, up slightly 4 US dollars / ton, or 0.
27%, the weekly K line closed a small doji, ending a three-day negative streak, and the performance bottomed out slightly
.
The market was closed on Friday, with a total of four trading days
during the week.
Weekly Lun aluminum performance low volatility, around the 5-day moving average oscillation downward, and on Wednesday low touched the lowest level in nearly four years of 1455 US dollars / ton, Thursday evening driven by the optimism of crude oil negotiations, Lun aluminum began to try to repair the weekly decline, the highest hit 1488 US dollars / ton
.
The fundamentals of London aluminum are weak and difficult to change, and it is expected to run at $1450-1520 / ton
next week.

This week is the first spot trading week after the return of the Qingming holiday, the market continued to ferment the expectation of RRR reduction during the week, and the outbound volume of major consumption places such as Guangdong, Wuxi and Gongyi improved month-on-month, and also slightly boosted sentiment in the fundamentals, Shanghai aluminum performance slightly stopped falling and rebounded, and the plate structure gradually changed from back to contango, and on Friday due to the rise in crude oil, a one-day increase of 190 yuan / ton
.
Entering next week, the news of tax reduction and RRR reduction may continue to ferment, and the plate contango structure will be maintained with a high probability; From a fundamental point of view, there is no more production reduction on the supply side, and it is also necessary to pay attention to changes in downstream procurement sentiment and rigid demand
.
It is expected that the operating range of Shanghai aluminum next week will be 11400-11950 yuan / ton
.

Spot trading in East China this week was relatively flat, and market activity increased
significantly on Friday.
The spot price in Shanghai and Wuxi is between 11540-11750, the discount is concentrated between 20 yuan / ton and flat water, and the spot transaction price in Hangzhou is concentrated between
11570-11760 yuan / ton.
This week, the shipholder shipments are more active, a large household carries out part of the procurement plan every day, the volume of goods received on Friday is nearly 10,000 tons, the middleman receives goods normally, relatively speaking, in the first few days of this week, although the buyer and seller are more active in the inquiry, but the actual transaction is more general, traders feedback that the market activity is not as active as last week, only Friday preference
.
In terms of downstream, this week's on-demand goods are the mainstay, and a small number of goods are received when the aluminum price is low in the middle of the week, and the willingness to stock up near Friday has increased
.