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Overnight, the main force of Shanghai aluminum opened at 14895 yuan / ton, after the opening of the bulls tried to pull up, the high touched 14910 yuan / ton, encountered short resistance, Shanghai aluminum fell low touched 14840 yuan / ton, the latter part of the short profit liquidation, Shanghai aluminum shock retreat, low touched 14865 yuan / ton, after the long and short game, Shanghai aluminum maintained range shock, the end of the session closed at 14890 yuan / ton
.
In terms of the market, domestic spot aluminum prices remained stable, and the spot AOO aluminum ingot price of Yangtze River Nonferrous Metal Network was reported at 14730 yuan / ton, down 10 yuan
.
The AOO aluminum ingot price in East China was reported at 14,750 yuan / ton, unchanged
from the previous day.
Due to the release of electrolytic aluminum production capacity due to the commissioning of new projects in Guangxi and the resumption of production at the end of the heating season in Henan, China's electrolytic aluminum production in May increased by 1.
3% month-on-month to 35,000 tons, which may limit the rise in aluminum prices, and spot aluminum prices are expected to be slightly
lowered today.
In terms of news, environmental protection supervision has increased, and the key areas of the blue sky defense war have been fully launched, including the main production areas of electrolytic aluminum, so enterprises that do not meet environmental protection requirements may face production restrictions and production stoppages, resulting in low arrivals of electrolytic aluminum, superimposed on stable downstream demand, and the inventory of electrolytic aluminum continues to decline, providing support
for aluminum prices 。 However, the market's concerns about the oversupply of electrolytic aluminum have not subsided, in addition, the United States relaxed sanctions against Rusal and market rumors that Hydro resumed production ahead of schedule, resulting in a sharp decline in overseas alumina prices, the closure of the domestic alumina export window, there is a risk of price reduction, thereby weakening the cost support of electrolytic aluminum, Shanghai aluminum upward resistance is greater, so it is recommended that the new order of Shanghai aluminum is temporarily wait-and-see
.
