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This week's aluminum industry has relatively many factors, first of all, electrolytic aluminum inventory continued to fall, secondly, from the cost side, alumina and coal prices temporarily stopped falling, although the pre-baked anode continues to decline, but the anode accounts for a relatively small proportion of the cost of electrolytic aluminum, while the rectification of captive power plants and environmental protection tax collection raise the industry cost center, so the short position closed during the week mainly drives the aluminum price rebound, and the main contract of Shanghai aluminum once rose to 14125 yuan / ton from around 13800 yuan / ton
.
In terms of external trading, the LME was closed on Monday, and on Tuesday, Lun aluminum opened high and low to touch 1980 US dollars / ton, once again refreshing a new low in nearly 8 months, and the weak Lun aluminum market is still continuing
.
In terms of spot, domestic aluminum prices rebounded during the week, approaching the Qingming holiday stocking demand, entering April capital tension has eased, the enthusiasm of holders to ship is not high, VAT reduction is still fermenting, the market can circulate limited supply, the discount continues to narrow, multiple factors intertwined this week the spot market performance is hot, the discount has narrowed to almost flat water
.
In terms of news, the Shanghai Futures Exchange announced on Wednesday that aluminum stocks in designated warehouses decreased by 154 tons from March 30, but remained higher at 970,233 tons
.
In recent months, the continuous rise in aluminum inventories has weighed on Shanghai aluminum prices
.
The Shanghai Futures Exchange aluminum inventory pass fell for the first time in nine months, giving the market a glimmer of hope that China's record-high aluminum inventory will decrease.
China is the world's largest producer and consumer of aluminum
.
Due to the easing of the Sino-US trade war atmosphere and the decline in market inventory, aluminum prices reversed the trend and rose sharply, but the domestic and foreign markets took turns to close, and investors mostly took a cautious wait-and-see attitude, limiting the rise in aluminum prices, and fell slightly on Wednesday
.
At present, the market news is mixed, the trend of aluminum prices is not clear, many data this week is about to be released, it is expected that next week's aluminum prices are weak and volatile
.
