Shanghai aluminum narrow finishing short-term bullish strength is shrinking

On the industry front, Rio Tinto said production at the top of the Weipa bauxite mine in Queensland returned to normal
after the cyclone came ashore last weekend.
Rio Tinto said in a statement: "The Rio Tinto Weipa project has resumed normal production, and both ports also resumed full capacity
operation on Sunday afternoon.
"

In terms of the market, the first trading stage of aluminum futures rose slowly before noon of the month, and the second trading stage was dominated
by range volatility.
The transaction price in Shanghai is between 13940-13950 yuan / ton, and the premium of the month is around 320-340 yuan / ton, the transaction price is slightly lower than yesterday, the transaction price in Wuxi is between 13940-13950 yuan / ton, and the transaction price in Hangzhou is between
13970-13980 yuan / ton.
The intraday market is full of supply, traders mainly ship, but the number of receivers is significantly reduced
compared with the previous period.
In addition, the market will significantly increase the number of tickets next month, and the quotation will be between 13680-13720 yuan / ton, but there are few actual transactions
.
The downstream performance of on-demand procurement during the day is more general
.
The overall transaction in East China is average
.

In terms of inventories, LME aluminum stocks were 1,155,450 tons on March 25, down 4,825 tons from the previous trading day, and as of March 22, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 741,757 tons, up 2,699 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.

During the day, Shanghai aluminum narrow finishing, in the spot market, the supply is sufficient, traders are mainly shipping, but the number of receivers is significantly reduced
compared with the previous period.
In addition, the market will significantly increase the number of tickets next month, and the quotation will be between 13680-13720 yuan / ton, but there are few actual transactions
.
The downstream performance of on-demand procurement during the day is more general
.
The overall transaction in East China is average
.
On the technical side, the Shanghai aluminum 1905 contract is under pressure below the middle band of the Bollinger band, the red column of the MACD indicator is shrinking, and the short-term Shanghai aluminum bull strength is shrinking
.
Operationally, it is recommended that the Shanghai-aluminum 1905 contract can consider selling high and low between 13500-13800 yuan / ton, and the stop loss is 100 yuan / ton
each.