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Today's Shanghai aluminum main month 2006 contract opened at 12085 yuan / ton, the highest intraday 12245 yuan / ton, the lowest 12045 yuan / ton, settled 12195 yuan / ton, and closed at 12135 yuan / ton, up 60 yuan
.
Aluminum ingot inventories continue to deteriorate, today's Shanghai aluminum shock is strong, the possibility of willingness to reduce production is doubtful, aluminum prices may have room
to fall.
In the external market, today's Lun aluminum is strongly volatile, LME three-month aluminum Beijing time at 15:00 at 1493.
5 US dollars / ton, up 3.
5 US dollars, or 0.
23%,
from the previous trading day's settlement price.
In terms of the market, today's spot trading price of Yangtze River is 12240-12280 yuan / ton, up 10 yuan; Guangdong South Reserve reported 12280-12340 yuan / ton, up 10 yuan; Hua reported 12350-12370 yuan / ton, flat
.
Cargo holders are actively shipped, middlemen are active in receiving goods, downstream on-demand procurement is the mainstay, and the overall transaction is good
.
Market highlights: On April 15, the European Aluminium Association announced the launch of the Recycled Aluminium Action Plan, a strategy to
realize the aluminium industry's full potential for circular economy development by 2030.
The action plan aims to ensure that all end-of-life aluminium products are efficiently collected and recycled in Europe to maximise aluminium recycling and maintain the efficient use
of materials.
During the epidemic, the backlog of orders boosted the recovery of consumption, the pressure on the warehouse was eased in the short term, the outbound efforts were increased, and the social inventory of electrolytic aluminum was smoothly
dematerialized.
Supply contraction, consumption rebound, destocking exceeded expectations, and in the case of easing macro atmosphere, Shanghai aluminum recorded a phased rebound
.
However, during the Spring Festival, the accumulation of electrolytic aluminum exceeded 1 million tons, and the total absolute inventory is still at a high level of 1.
4 million tons, considering the low price aluminum plant has a reluctance to sell, downstream manufacturers have low stockpiling behavior, the subsequent inventory decline is still likely to narrow, should not be overly optimistic
.
The short-term supply and demand contradiction has eased, the medium-term bearish logic has not changed, there is still a risk of retracement, and the sharp fall in crude oil overnight has caused market panic, aggravating the range of this round of correction, and the market is likely to maintain range volatility
in the future.
Spot circulation is tight, and the basis is expected to continue to strengthen
.
