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Yesterday, aluminum prices suddenly rose, and the intraday sharp rise exceeded 10,000, and then fell
back.
Aluminum prices are still weak varieties in the non-ferrous sector, and the industry's losses are more carried out by compressing upstream profits rather than reducing production, and the status quo of oversupply continues, and the fundamentals remain weak
.
The short-term rebound lacks strong support, it is not recommended to chase long, bears wait for entry opportunities
.
Spot market: today's spot trading price of Yangtze River is 11980-12020 yuan / ton, up 100 yuan; Guangdong South Reserve reported 12030-12090 yuan / ton, up 110 yuan; Hua reported 12090-12110 yuan / ton, up 90 yuan; The average domestic spot trading price is between
12000-12400 yuan / ton.
The downstream on-demand receiving is the mainstay, the willingness of the middleman to receive the goods is acceptable, and the overall transaction is better
.
Industry News:
1.
The Development and Reform Commission of Guangdong Province and other ten departments jointly issued the "Several Measures of Guangdong Province to Promote Rural Consumption", of which promoting cars to the countryside and home appliances to the countryside is the biggest highlight
.
Encourage automobile enterprises to give benefits to rural residents in Guangdong Province, and on the basis of enterprise concessions, provincial finance will subsidize
the use of new energy vehicles or fuel vehicles for rural residents in the province to use new energy vehicles or fuel vehicle purchase funds.
The provincial finance subsidizes
the purchase of eight types of home appliances such as 4K TVs, air conditioners, washing machines, refrigerators, computers, mobile phones, rice cookers, and water heaters by rural residents in the province.
2.
Hydro said that although the continuous fermentation of the new crown epidemic has put pressure on Hydro's main markets and exacerbated the escalation of market uncertainty, in order to meet the backlog of orders in different product markets and customer demand, some recycling plants and extrusion plants
were opened this week.
3.
Novelis, the world's leading manufacturer of aluminum rolled products and leader in aluminum recycling, announced on April 14 the completion of the acquisition
of Aili Aluminum, a global aluminum sheet supplier.
The final purchase price was US$2.
8 billion, including US$775 million in equity value, and assumed approximately US$2 billion of AILI Aluminum's current outstanding debt and contingent consideration payment
of US$50 million.
Today's Shanghai aluminum main month 2006 contract opened at 11915 yuan / ton, the highest intraday 12125 yuan / ton, the lowest 11875 yuan / ton, settled 12020 yuan / ton, and closed at 12085 yuan / ton, up 175 yuan
.
Domestic electrolytic aluminum inventory shows a trend of decomposition, today Shanghai aluminum continues to be strong, whether the scale of aluminum plant production reduction can be further expanded remains to be seen, the future market should not blindly chase higher
.
