Shanghai aluminum continues to be strong in the short term or revisit the previous high

In terms of industries, China's alumina imports in April were 60,000 tons, and the cumulative imports from January to April were 220,000 tons, down 42.
6% and 23.
9% year-on-year, respectively
.
Data showed that China's imports of unwrought aluminum and aluminum products in April were 42,098 tons, an increase of 1.
9% year-on-year, and the cumulative import from January to April was 162,161 tons, a year-on-year decrease of 5.
3%.

In terms of the market, the opening of the month was dominated by narrow range fluctuations, and the second trading stage sank
slightly.
In the morning, the Shanghai trading price was around 14340-14350 yuan / ton, with the fall of aluminum, the Shanghai spot transaction price began to concentrate between 14320-14340 yuan / ton, the price rose by 100 yuan / ton from last Friday, the monthly premium 20~30 yuan / ton, Wuxi spot transaction price between 14320-14340 yuan / ton, Hangzhou transaction price between 14370-14380 yuan / ton
.
The intraday market is full of supplies, Shanghai Wuxi holders are actively shipping, there are still more shippers than receivers, and Hangzhou traders are slightly hesitant to sell at a high price
.
Due to the sharp rise in aluminum prices, the downstream began to wait and see, but due to the need for replenishment on Monday, there was still some procurement
.

In terms of inventories: LME aluminum stocks were 1,208,900 tons on May 24, down 5,125 tons from the previous session; As of May 24, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 539,202 tons, down 29,929 tons
from the previous week.
From a seasonal perspective, current inventories remain at an average
level compared to the last five years.

Market research and judgment: the main 1907 contract of Shanghai aluminum continued to be strong in the day, due to a fire in the fourth workshop of electrolytic aluminum of Henan Shenhuo Group aluminum plant, the fire has been effectively controlled, but affected by this event, or will all stop production news stimulated
.
In the spot market, the supply is sufficient, Shanghai Wuxi holders are actively shipping, there are still more shippers than receivers, and Hangzhou traders are slightly hesitant to sell at a high price
.
Due to the sharp rise in aluminum prices, the downstream began to wait and see, but due to the need for replenishment on Monday, there was still some procurement
.
On the technical side, the Shanghai-aluminum 1907 contract continues to strengthen, and the short-term may retest the previous high
.
In operation, it is recommended that the Shanghai aluminum 1907 contract can consider selling high and low between 14050-14350 yuan / ton, and the stop loss is 100 yuan / ton
each.