Shanghai aluminum rebounded slightly, short-term recommended shock treatment

In terms of industry, Alufer Mining Limited recently announced the latest news of the Bel Air bauxite project in Guinea, Alufa is considering expanding the Bel Air bauxite mine in Guinea to 10 million tons / year of operation, has carried out preliminary engineering studies, and is currently conducting follow-up detailed engineering studies, which will provide a general direction
for future expansion.

In terms of the market, the aluminum period was mainly range-bound before the afternoon of the month
.
The spot trading price of Shanghai is between 14040-14060 yuan / ton, down about 10 yuan / ton from the previous day's transaction price, the premium of the month is 10-20 yuan / ton, the transaction price of Wuxi is between 14040-14060 yuan / ton, and the transaction price of Hangzhou is between
14060-14080 yuan / ton.
The market has sufficient circulation and active trading among traders, but the downstream transaction situation has not significantly improved compared with the previous day, and the performance is flat
.
The overall transaction in East China within the day is average
.

In terms of inventories, LME aluminum stocks were 1,250,250 tons on May 3, an increase of 22,600 tons from the previous trading day; As of April 30, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 621,907 tons, down 16,123 tons
from the previous week.
From a seasonal perspective, current inventories remain at an average
level compared to the last five years.

The main 1906 contract of Shanghai aluminum rebounded slightly during the day, as the news that China and the United States will continue the eleventh round of consultations on economic and trade issues has repaired market pessimism
.
In the spot market, the circulating supply is sufficient, and the trading between traders is active, but the downstream transaction situation has not improved significantly compared with the previous day, the performance is flat, and the overall transaction is average
.
On the technical side, the Shanghai aluminum 1906 contract rose back to around 14,000 yuan / ton, showing a finishing trend, while the MACD indicator green column further expanded, and short-term recommendations were volatile
.
Operationally, it is recommended that the Shanghai-aluminum 1906 contract focus on short-term wait-and-see
.