Shanghai aluminum short-term strengthening, insufficient support or shock waiting to drive

Today's Lun aluminum low narrow range, LME three-month Beijing time at 15:01 at 2750 US dollars / ton, down 32 US dollars, or 1.
15%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 20240-20280 yuan / ton, up 150 yuan, and the discount is 35-liter 5; Guangdong spot 20310-20370 yuan / ton, up 120 yuan, premium 25-liter 85; Hua reported 20300-20340 yuan / ton, up 150 yuan
.
Merchants are bearish and lower prices to stimulate shipment for cash, traders are gradually increasing wait-and-see sentiment, the willingness to replenish goods is not high, and the actual trading volume is limited
.

As Europe's high electricity costs led to overseas refinery production cuts again triggering supply concerns, this concern provided some support for aluminum prices, and domestic electric vehicle sales are good, according to data from the China Association of Automobile Manufacturers, China's new energy vehicle sales from January to April increased by 112.
2% year-on-year, also boosted market confidence, aluminum may rise
.

Overnight, Shanghai aluminum oscillations were strong
.
Inventory data at the beginning of the week shows that aluminum social inventory continues to accumulate, since May, the inventory performance is the worst in recent years, in-transit inventory has also accumulated, the second quarter storage space but demand elasticity has not been significantly reflected, short-term price strength support is insufficient, Shanghai aluminum or shock waiting to drive
.