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Overnight, the main force of Shanghai aluminum opened at 13915 yuan / ton, the early short high pressure, the period aluminum fell 13810 yuan / ton, and then the Internet spread that Shandong cleared the illegal production capacity documents, the bears risk aversion surged, the main force of Shanghai aluminum rebounded, the high recorded 13975 yuan / ton, long and short high cautious, the end of the shock closed at 13935 yuan / ton
.
The volume decreased by 96376 lots to 107348 lots, and the position volume decreased by 1008 lots to 244570 lots
.
Today, the main force of Shanghai aluminum continues to test the Wansi Pass, and it is expected to run 13850~14100 yuan / ton
within the day.
Spot discount 90~50 yuan / ton
.
In terms of news, the market continues to expect Shandong Province to announce illegal production capacity, it is expected that the illegal production capacity is about 2 million tons, for the subsequent illegal production capacity treatment plan, the market interpretation is different, but the slowdown in the growth rate of new production capacity is still in a high probability event, light positions and long holding, waiting for the news to land.
In terms of the market, the morning spot market holders continued to raise prices, downstream on-demand procurement, the overall transaction increased, Shanghai mainstream price of 13800-13820 yuan / ton, discount about 60 yuan / ton, Guangdong 13850-13860 yuan / ton
.
In May, the fundamentals of the domestic aluminum market showed signs of weakening again, due to the decline in the high level of downstream consumption, and inventories also rose
again.
However, the main factor affecting the price trend is still the policy impact
.
The production capacity reduced due to the production restriction policy in the early stage was very small, which caused the market to bear the impact of the policy, but the new production was obviously curbed, and the growth of operating capacity slowed down
significantly.
The relevant policies in Shandong, which the market is concerned about, are expected to be introduced
in the near future.
Operationally, it is still recommended to focus on the idea of pullback
buying.
