Shanghai aluminum under pressure fell There is a certain pressure above

In terms of external trading, Asia Lun aluminum basically maintained a weak finish, but the performance was slightly resistant to falling to other base metals, of which Shanghai aluminum closed slightly up 0.
15% to 1640 US dollars / ton, the daily closing price fell back to the level of a week ago, from this round of rebound high of 1686 US dollars / ton down 2.
7%.

Macro: China's Caixin manufacturing PMI fell to 49.
4 in April, the 14th consecutive month below the 50-boom-dry dividing line, indicating that the domestic industrial recovery base is still relatively weak, dragging down the copper market demand outlook, in addition to the overnight dollar index oscillation strengthened, now trading around
93.

Market: According to SMM reports, on May 4, Shanghai aluminum trading concentrated 12600-12620 yuan / ton, and the flat water
of aluminum in the month.
After last night's aluminum plunge, today's recovery is weak, the market bearish atmosphere is gradually stronger, holders are eager to exchange cash, shipment attitude is positive, middlemen replenishment attitude is cautious, downstream yesterday after stocking inventory is sufficient, fear of falling sentiment under the wait-and-see
, the overall transaction is cooler than yesterday.

Today's Shanghai aluminum 1607 contract fell under pressure to 12485 yuan / ton, showing that there is a certain selling pressure above, the performance is much weaker than other base metals and Lun aluminum, because the short-term aluminum price continues to rise after facing pullback demand, it is recommended that the Shanghai aluminum 1607 contract can be backed by 12600 yuan cautiously short, the target focus on 12400 yuan
.