Shanghai aluminum closed slightly higher, and it is difficult to get out of the shock range in the short term

In terms of industry, according to foreign news on April 5, Norwegian Hydro (Norsk Hydro) said on Friday that a federal court in Brazil plans to hold a hearing
on April 12 on the company's Alunorte alumina plant for a year-long production ban.
Since February 2018, the plant has reached half
capacity.
Previously, the oil spill caused regulators and courts to limit the plant's output
.
Hydro said in a statement that there was no timetable for deciding whether to lift production
restrictions.

In terms of the market, the transaction price in Shanghai is between 13790-13820 yuan / ton, for the flat water - liter 10 yuan / ton, Wuxi transaction price is between 13790-13820 yuan / ton, Hangzhou transaction price is between
13820-13840 yuan / ton.
The intraday market is sufficient supply, the morning market transaction is acceptable, the transaction price is between 13810-13820 yuan / ton, with the decline of aluminum future, the transaction price began to concentrate between 13790-13800 yuan / ton, at this time the shippers shipment strength weakened, buyers and sellers performed a slight stalemate
.
There was no obvious sign of replenishment after the downstream holiday, and it was basically purchased
on demand.
The overall transaction in East China is relatively average
.

In terms of inventories, LME aluminum stocks were 1,104,525 tons on April 05, down 5,750 tons from the previous session; As of April 04, 2019, the Shanghai Futures Exchange electrolytic aluminum inventory was 722,092 tons, down 12,898 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.

Shanghai aluminum closed slightly higher during the day, and Hydro electrolytic aluminum production resumed, which restrained
the upside of aluminum prices.
In the spot market, the shipment efforts of holders weakened, and the performance of buyers and sellers was slightly
deadlocked.
There was no obvious sign of replenishment after the downstream holiday, and it was basically purchased
on demand.
On the technical side, the pressure above the Shanghai aluminum 1905 contract is obvious, and it is expected that short-term aluminum prices will be difficult to get out of
the shock range.
Operationally, it is recommended that the Shanghai-aluminum 1905 contract can consider selling high and low between 13600-13850 yuan / ton, and the stop loss is 100 yuan / ton
each.