Shanghai aluminum upper and lower space are limited, short-term is expected to continue the shock

Today's spot trading price of Yangtze River is 11480-11520 yuan / ton, up 20 yuan; Guangdong South Reserve reported 11530-11590 yuan / ton, up 40 yuan; Hua reported 11610-11630 yuan / ton, up 40 yuan / ton; The average domestic spot trading price is between
11450-11850 yuan / ton.
Today, aluminum is stable, the willingness of holders to raise prices is obvious, traders are actively receiving goods, downstream is still purchasing normally, and the overall transaction is acceptable
.

Industry News:

1.
The U.
S.
Commerce Department said on Tuesday it had launched a trade investigation
into imports of ordinary alloy aluminum plates from 18 countries, including Germany, Oman and Bahrain.
The Commerce Department said it would investigate whether the 18 countries unfairly dumped these products on the U.
S.
market and whether exports from four of them were unfairly subsidized
.
If the investigation finds that aluminum sheets imported from any one country are unfairly dumped or subsidized, and another trade panel finds that domestic producers have been harmed, the United States will impose tariffs
on these products.

2.
On March 27, the Mexican Ministry of Economy issued an announcement in the official gazette, making a preliminary anti-dumping ruling on aluminum discs (Spanish: discos de aluminio) originating in China, deciding to continue the anti-dumping investigation, and imposing a provisional anti-dumping duty
of 37.
88% on the products involved.
The TIGIE tax ID number of the product involved is 7616.
99.
10
.
The resolution shall take effect
on the day following its issuance.

3.
March 31 news, Rio Tinto Mining Group said on Tuesday that in order to ensure the health and safety of its workers and comply with government restrictions on controlling the new crown virus, the company will cut some operations
of its Tiwai smelter in New Zealand.
New Zealand Civil Defence Minister Peeni Henare said in a statement that the state of emergency will be extended for another 7 days to stop the spread of the new coronavirus; The state of emergency, which has been in place since 25 March, can be extended
as many times as needed.
New Zealand's Rio Tinto Aluminium said in a statement that the smelter will cut some of its aluminum manufacturing facilities accordingly, and affected workers will be redistributed to other areas
of the plant.

Due to the relatively large proportion of exports, the recent overseas automobile industry has formed a significant negative impact on the fundamentals, resulting in weak aluminum operation in nonferrous metals
.
At present, the electrolytic aluminum industry has suffered a large loss, the scale of production reduction may expand, and the downward space of aluminum prices is limited, but the rebound momentum under the weak external demand is also small, and the short-term is expected to continue the shock
.