Shanghai aluminum continues to strengthen peak season consumption to provide support

Today, LME three-month aluminum opened low and high, and the LME three-month aluminum Beijing time was reported at 2354.
5 US dollars / ton at 15:01, up 26.
5 US dollars, or 1.
14%,
from the settlement price of the previous trading day.

In terms of the market, today's spot trading price of Yangtze River is 18060-18100 yuan / ton, up 320 yuan; Guangdong South Reserve reported 18110-18170 yuan / ton, up 310 yuan; Hua reported 18180-18200 yuan / ton, up 330 yuan
.
Cargo holders actively shipped, downstream cautious procurement, large households received goods enthusiasm is general, and the overall transaction turned weak
.

At the International Monetary Fund's (IMF) spring video conference, Powell reiterated the Fed's signal to maintain its ultra-accommodative stance, and the dollar index retreated and has now fallen below
92.
Mengdong and Mengxi, Inner Mongolia, have successively introduced policies to limit electrolytic aluminum production capacity, and there are rumors that Xinjiang electrolytic aluminum production capacity may also be affected
.
Under the goal of carbon neutrality, the growth of electrolytic aluminum supply is limited
.
The social inventory of electrolytic aluminum fell to about 1.
2 million tons, and the follow-up is still in the trend of destocking under the expectation of the peak consumption season
.
From the perspective of the operating rate of processing enterprises, the operating rate continued to rise, orders improved significantly compared with the previous period, and the consumption of electrolytic aluminum in the second quarter remained unchanged
.
Overall, Shanghai Aluminum still holds a long idea, and it is recommended to continue to hold
it.