May 12 aluminum market afternoon review

Overnight, Lun aluminum closed the doji with a sharp oscillation above the 5-day moving average, opening slightly higher at $
2537 today.
After the daily plunge in the Shanghai aluminum market, the night session opened high and closed low to close the small black candle, closing below the 5-day moving average at 19840
.
Short-term Shanghai aluminum is facing pullback pressure and may enter a shock, and it is still possible to rise again after the medium-term momentum
.
Upper pressure 20000, lower support 19000
.

The Federal Reserve has always maintained a loose attitude towards monetary policy, and the economic data released recently has weakened the market's expectations for the US dollar, which is generally conducive to the upward
movement of non-ferrous metal prices.
Mengdong and Mengxi in Inner Mongolia have successively issued policies to limit the production capacity of electrolytic aluminum, with an overall impact on production capacity of more than 100,000 tons
.
Under the goal of carbon neutrality, all localities have the intention to restrict high-energy-consuming enterprises, and the growth of electrolytic aluminum supply will be limited
.
Electrolytic aluminum social stocks continue to decline, the latest data show that stocks have fallen to about 1.
1 million tons, and the higher point stocks have fallen by 150,000 tons
.
From the perspective of the operating rate of processing enterprises, the operating rate continued to rise, orders improved significantly compared with the previous period, and the consumption of electrolytic aluminum in the second quarter remained unchanged
.
Overall, aluminum prices are prone to rise and fall
under the logic of mismatch between supply and demand.