May 14 aluminum market morning review

Non-ferrous metals all pulled back on Wednesday, and as of the close of 3 p.
m.
, the main contract of Shanghai aluminum closed down at 12495, down 15, or 0.
12%; On the external side, concerns about the economic outlook and the strengthening of the US dollar index continued to move the metal lower overnight, with the London Stock Exchange March aluminum price closing down 0.
24% to $1476/mt
.

In the morning, the overall transaction of the spot market was relatively flat, the middlemen were cautious, the downstream receiving volume increased slightly, and the mainstream trading price in Shanghai was 12720 yuan / ton, which was basically flat compared with futures
.
The mainstream transaction price in Guangdong is around 12750 yuan / ton
.
There are concerns about the lack of stamina of domestic consumption, but the current consumption has not weakened significantly, and inventories continue to deteriorate
.
It remains to be seen what policies will be
released at the upcoming two sessions.

At present, the domestic aluminum ingot continues to destocking to form a certain support for aluminum prices, but due to the rise in aluminum prices leading to the repair of profits at the electrolytic aluminum end, aluminum enterprises may reduce the willingness to reduce production, and at the same time affected by the situation of internal strength and external weakness, the import arbitrage window is opened, and the short-term aluminum price still maintains volatility, and the main contract of Shanghai aluminum is temporarily concerned about the shock around 12,500, and the operation is temporarily wait-and-see, and the spot aluminum is expected to be stable
.