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Overnight, the main force of Shanghai aluminum opened at 13900 yuan / ton, the bears actively pressured at the beginning of the session, the early entry bulls saw the trend of large-scale departure, Shanghai aluminum pressure quickly leaked low touched 13745 yuan / ton, then long and short are more cautious, Shanghai aluminum around 13785 yuan / ton narrow range, closed at 13795 yuan / ton, long liquidation
.
It is expected that today's Shanghai aluminum main force low range oscillation, the operating range of 13700 ~ 13900 yuan / ton, spot discount 40 yuan / ton to flat water
.
In terms of the market, on May 11, the spot price of A00# aluminum was 13720 yuan / ton, up 30 yuan / ton from the previous day, and the discount was 20 yuan / ton compared with the recent month contract, the smelter was more willing to raise the price, the output of aluminum ingots declined, the inventory of aluminum ingots in the place of consumption fell, and the downstream actively entered the market after the price stabilized, and the overall transaction market was relatively active
.
In terms of inventory, the latest announcement of the circulation inventory of the five places showed a decrease of 31,000 tons month-on-month, and the discount shrank to near Pingshui, and the pressure on supply and demand is still large at this stage: the circulation inventory is still at the high point of the year, and there is no significant sign of decomposition, showing the phenomenon
of low peak season.
Supply reform expectations support aluminum prices under high spot pressure, in the market environment under the mud and sand to maintain a relatively strong position, while the policy has not further substantial promotion, market sentiment began to gradually cool, facing reality
.
It is expected that before the policy is clarified, short-term Shanghai aluminum is still difficult to say optimistic
.
