Shanghai aluminum continues to be strong and still runs strongly in the short term

In terms of industry, Malaysian authorities have set a monthly bauxite export target of 600,000 tonnes in the draft proposal, which is intended to promote bauxite mining operations and export standardization
in eastern Pahang.
Malaysia's Ministry of Water, Land and Natural Resources said in a draft on Sunday that the Kwantan Port Authority had set the amount
of ore to export.
Most of Malaysia's bauxite is exported
through this port.
According to the draft recommendation, this level of export already takes into account aspects such as cleanliness and the environment
.

In terms of the market, aluminum futures fluctuated upward before noon that month
.
The transaction price in Shanghai is between 13750-13760 yuan / ton, and the discount of the month is 30-20 yuan / ton, because Monday is the first day of the tax reduction policy, the premium narrows, the transaction price fell by more than 170 yuan / ton compared with the previous day, the transaction price in Wuxi was between 13750-13760 yuan / ton, and the transaction price in Hangzhou was between
13750-13770 yuan / ton.
Due to the rise in aluminum and the decline in spot prices, traders are enthusiastic about receiving goods, but the actual transaction is slightly
deadlocked.
Downstream Mondays basically purchased on demand and did not have obvious willingness to
stock up.
The overall transaction in East China was acceptable
during the day.

In terms of inventories, LME aluminum stocks were 1,129,175 tons on March 29, down 5,775 tons from the previous session; As of March 29, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 734,990 tons, down 6,767 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.

Shanghai aluminum continued to be strong during the day, as the market had better expectations for a Sino-US trade deal, and China's official manufacturing PMI in March returned above the boom and bust line, boosting market sentiment, the non-ferrous sector generally rose, and aluminum prices rose further
.
In the spot market, due to the rise in aluminum and the decline in spot prices, traders are enthusiastic about receiving goods, but the actual transaction is slightly
deadlocked.
The downstream basic on-demand procurement on Monday did not have obvious willingness to stock up, and the overall transaction was acceptable
.
On the technical side, the aluminum 1905 contract rose and broke through the previous high, closing at a nearly 3-month high, and it is expected that short-term aluminum prices will still run
strongly.
Operationally, it is recommended that the Shanghai aluminum 1905 contract can consider relying on the 13700 yuan / ton pullback to go long
.