Shanghai aluminum closed slightly higher in the short term or in an adjustment trend

In terms of industry, according to SMM statistics, the national electrolytic aluminum output in February (28 days) was 2.
683 million tons, a year-on-year decrease of 1.
54%, and by the end of February, the domestic electrolytic aluminum operating capacity was 35.
9 million tons, a decrease of about 130,000 tons
from the same period last year.
From January to February, including Shaanxi Hengkang, Shandong Huayu, Shanxi Huasheng, Shanxi Huaze, Shanxi Huaze, Jiaozuo Wanfang, Tongshun Aluminum and other electrolytic aluminum enterprises reduced production, as well as the comprehensive impact of new production capacity such as Inner Mongolia Chuangyuan and Inner Mongolia Guyang in the same period, the actual operating capacity scale remained low
.

In terms of the market, the transaction price in Shanghai is between 13600-13610 yuan / ton, and the discount for the month is between 50-30 yuan / ton, the transaction price is more than 40 yuan / ton lower than last Friday, the transaction price in Wuxi is between 13600-13610 yuan / ton, and the transaction price in Hangzhou is between
13600-13610 yuan / ton.
Chalco received nearly 5,000 tons of goods in East China, the market spot is sufficient, and the holders are actively shipping, but the shippers are mostly quoted at 13610 yuan / ton, and the receivers mostly accept the price of 13600 yuan / ton, the two sides are slightly deadlocked, but it does not affect the overall transaction activity of the market
.
Downstream normal on-demand procurement, the overall is not much bright.

In terms of inventories, LME aluminum stocks were 1,221,375 tons on March 08, down 7,625 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, as the performance of the US dollar index was under pressure, and aluminum prices rebounded
slightly.
In the spot market, the holders are actively shipping, but there are differences between buyers and sellers in the market, and the two sides are slightly deadlocked, but it does not affect the overall transaction activity of the market, and the downstream normal on-demand procurement, the overall is not much bright.

Technically, the Shanghai aluminum 1905 contract is still under pressure on the middle band of the Bollinger band, but the opening of the Bollinger band is tightening, and the short-term aluminum price may be in an adjustment trend
.