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On Monday morning, the main force of Shanghai aluminum opened at 13875 yuan / ton, Shanghai aluminum narrow range finishing at the beginning of the session, a moment later the bulls took the initiative to force, the bears saw the situation and left the market and waited, aluminum prices quickly rose to break through the 10,000 mark to touch 14025 yuan / ton, the high short profit take, aluminum prices fell back to 13970 yuan / ton a line of narrow finishing, in the afternoon Shanghai aluminum repeatedly rushed up the 10,400 mark without success, the end of the session long and short successively expanded the scale of exit, and finally closed at 13985 yuan / ton
。 According to the notice issued by the National Development and Reform Commission and other departments on the "Action Plan for Cleaning Up and Rectifying Illegal Projects in the Electrolytic Aluminum Industry", May 15 is the deadline for electrolytic aluminum enterprises in various provinces to report the results of self-inspection of illegal production capacity.
In terms of the external market, Lun aluminum opened at 1888 US dollars / ton in the morning, after a short narrow range of separations around 189 US dollars at the beginning of the Asian market, the trading center of gravity slowly moved up, and once touched 1903 US dollars / ton in the afternoon, but the resistance of the 1900 US dollars / ton integer mark was strong, Shanghai aluminum fell back at a high level, entering the European trading session Lun aluminum tested 1900 US dollars / ton resistance many times, and finally formed an effective breakthrough, touching the 20-day and 60-day moving averages, as of 17:20, Lun aluminum high recorded 1910 US dollars / ton, At $1908.
5 / ton, it is expected that short-term aluminum will initially test the 60-day resistance
.
In terms of macro, China's industrial added value above designated size from January to April increased year-on-year, in addition, the US retail sales and CPI data in April weakened, the US dollar index was frustrated and declined, aluminum prices were supported and rose, but there is no substantial positive news in the market for the time being, aluminum prices have insufficient upward momentum, and investors are advised to maintain a cautious attitude
.
In terms of the market, aluminum futures bottomed out after the opening of the month, stabilizing at 13855 yuan / ton before noon, Shanghai spot trading concentrated 13850-13860 yuan / ton, the month discount 10 to flat water, Wuxi spot transaction 13850-13860 yuan / ton, Hangzhou spot transaction 13860-13870 yuan / ton, aluminum prices rose sharply, holders actively shipped, but on the delivery day, the market willingness to receive goods weakened, 13850 yuan / ton is the overall transaction price of the East China market, a small amount of bargain hunting downstream purchases, The willingness of middlemen to receive goods is not strong, and the overall transaction in the East China market on the delivery date is relatively general
.
The afternoon market traded on flat water
for the month.
Overall, the main 1707 contract of Shanghai aluminum rebounded slightly during the day, and the tail market closed at 13985 yuan, the trend is that aluminum prices will continue to be entangled in the short term, and the area around 14000 yuan continues to be empty
.
