Shanghai aluminum closed slightly higher, and market trading activity fell rapidly

On the industry front, as the ban on bauxite mining looms was approaching on March 31, Malaysia announced that all bauxite producers must undergo an environmental impact assessment
in order to regain production permits.
While it did not say when the environmental impact assessment would begin, Malaysia's Ministry of Resources said Wednesday that each bauxite mine would take at least six months to complete
.

In terms of the market, the first trading stage of aluminum gradually rose, and after the release of the news of the tax cut in the second trading stage, the price of aluminum rose by more than 100 within 2 minutes, and then rose and fell
sharply.
In the first trading stage, the transaction price in Shanghai was between 13780-13800 yuan / ton, and the discount of the month was between 20-10 yuan / ton, the transaction price was slightly lower than the previous day, the transaction price in Wuxi was between 13780-13800 yuan / ton, and the transaction price in Hangzhou was between
13780-13800 yuan / ton.
The morning market is actively traded and most of the people receive goods
.

With the release of tax reduction news, market transaction activity fell rapidly, quotations showed a chaotic situation, concentrated on the current month's plate discount 70-20 yuan / ton, the price in 13820-13870 yuan / ton, but because the price rise is too fast, superimposed intraday for the month contract delivery day, at this time the market wait-and-see sentiment is strong, there is no market, almost no transaction
.
In the morning, downstream manufacturers considered the demand for weekend storage, and traded in the price range of 13780-13800 yuan / ton, and then the price rose sharply and returned to light
.

In terms of inventories, LME aluminum stocks were 1,189,025 tons on March 14, down 9,350 tons from the previous session; As of March 08, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 739,565 tons, down 7,447 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, affected by the release of tax cut news, market transaction activity fell rapidly, quotations showed a chaotic situation, the market wait-and-see sentiment was strong, there was no market, and there was almost no transaction
.
On the technical side, the MACD indicator of the Shanghai aluminum 1905 contract showed an upward trend, but there is still greater resistance near the previous high, and short-term shock treatment is recommended
.
Operationally, it is recommended that the Shanghai-aluminum 1905 contract can consider selling high and low between 13500-13750 yuan / ton, and the stop loss is 100 yuan / ton
each.