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Overnight Shanghai aluminum main force opened at 13990 yuan / ton, yesterday the provinces electrolytic aluminum enterprises reported the deadline for illegal production capacity self-inspection results, coupled with the "Belt and Road" meeting, bulls took the initiative to increase positions, the center of gravity of aluminum rose steadily, the high touched 14060 yuan / ton, the end of the session long profit exited, the aluminum closed at 14030 yuan / ton
.
The trading volume decreased by 119,000 lots to 72,158 lots, and the position increased by 3,852 lots to 259324 lots
.
The upward factors of aluminum in the stimulation period are not sustainable, and the main force of Shanghai aluminum will compete for 14,000 yuan / ton, and it is expected to run 13,900~14,100 yuan / ton
in the day.
Spot discount 60~20 yuan / ton
.
In terms of spot, the spot transaction price in Guangdong is concentrated in 13860~13880 yuan / ton, which is about 10 yuan / ton higher than that in East China, and the price difference between Guangdong and Shanghai continues to narrow
.
Spot prices have risen sharply, the downstream is basically based on wait-and-see, the market receiving is limited, the holders are actively shipping, the low-price range middlemen are trading fairly, and the overall transaction is relatively light
.
In terms of industry, according to the statistics of the Asian Metal Data Network Center, the capacity replacement index of China's electrolytic aluminum plant is about 2.
48 million tons
.
As of the end of April, China's electrolytic aluminum illegal production capacity was about 4.
9 million tons, including about 3.
2 million tons of operating capacity and about 1.
7 million tons of completed and uncommissioned capacity
.
On the whole, capacity reduction is expected to boost aluminum prices, but the potential expansion momentum and high inventories caused by the expansion of smelter profits have put pressure on aluminum prices, but the current tendency of alumina manufacturers to reduce production has supported aluminum prices
.
It is expected that the short-term shock of the main force of Shanghai aluminum is strong, which can be seen at 14200, for reference
only.