Shanghai aluminum continues to rise, and overall consumption is difficult to say optimistic

In terms of external trading, today's Lun aluminum trend is strong, LME three-month aluminum Beijing time at 15:00 at 1510 US dollars / ton, up 3 US dollars, or 0.
20%,
from the previous trading day's settlement price.

Spot market: today's spot trading price of Yangtze River is 12570-12610 yuan / ton, up 90 yuan; Guangdong South Reserve reported 12780-12840 yuan / ton, up 70 yuan; Hua reported 12680-12700 yuan / ton, up 80 yuan
.
There are many inquiries from receivers, downstream on-demand procurement, and the overall transaction is
acceptable.

Industry News:

1.
Rusal United Company (RUSAL) said in its business summary for the first quarter of 2020 that the new coronavirus epidemic has completely changed the market outlook
for the year.
Persistent oversupply and weak demand could take months to return to previous levels
.
In particular, due to the shutdown of large automobile manufacturers in Europe, China, the United States and other countries, the transportation sector has become the weakest link
in the aluminum consumer industry.

2.
Data released by the General Administration of Customs of China showed that China's scrap aluminum imports in March fell by 39% year-on-year, and China's scrap aluminum imports in March were 76,672 tons
.

3.
According to data released by the General Administration of Customs of China, China's alumina imports in March 338653 tons, of which 159,770 tons came from Australia
.

4.
It is reported that Gansu Province plans to collect and store 436,000 tons of non-ferrous metal products, including 80,000 tons of copper, 300,000 tons of aluminum, 40,000 tons of zinc, 15,000 tons of nickel and 1,000 tons of
cobalt.
After preliminary investigation by Shanghai Metal Network, this matter is likely to be true
.
However, no official document has been released yet, and the later progress
will be closely monitored.

The seasonal warming of demand has led to a significant destocking, spot premiums remain high, and storage information stimulates the plate
.
However, the expectation of aluminum prices should not be overly optimistic, profit repair suppresses the willingness to reduce production, aluminum ingots have potential import impacts under the high value of Shanghai, the negative impact of external demand may gradually appear, the long-term fundamentals of aluminum have not changed, under the long-term suppression, the upside of aluminum prices is limited, and it is expected to be difficult to get rid of the shock pattern
.