Shanghai aluminum volatility is strong, and the market wait-and-see attitude is obvious

In terms of industry, RUSAL has disagreements
with South American employees in Guyana over compensation.
Guyana branch workers refused to work and demanded a raise
.
But Rusal said it had raised workers' wages
at the end of last year, taking into account possible future inflation.
Guyana media reported that after Rusal laid off 61 employees due to a salary disagreement, the local government is considering whether to close Rusal's plant
.
RUSAL employs around 500 people
in Guyana.

In terms of the market, the mainstream transaction price in Shanghai was traded between 13610-13630 yuan / ton, an increase of more than 70 yuan / ton from the previous day, and between 60 and 50 yuan / ton for the month
.
In the morning, Chalco received nearly 3,000 tons at a price nearly 40 yuan / ton higher than the market transaction price, and the cargo holders shipped very actively, and then its receipt price was gradually lowered to around 13620 yuan / ton, the overall market led by Chalco was active, traders and middlemen traded actively, and downstream manufacturers basically performed on-demand procurement on the first day of this week, and there was not much brightness
.
The overall transaction in East China was better
during the day.

In terms of inventories, LME aluminum stocks were 1,232,950 tonnes on March 1, up 13,250 tonnes from the previous session; As of March 1, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 747,012 tons, an increase of 10,332 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.

During the day, the Shanghai aluminum shock was strong, due to the increase in domestic electrolytic aluminum production, and Rusal had a salary conflict with employees in Guyana, the local government considered whether to close Rusal, and the market had favorable expectations
for the improvement of aluminum fundamentals.
In the spot market, under the leadership of Chinalco, the overall market transaction is active, traders and middlemen are actively trading, and downstream manufacturers basically perform on-demand procurement on the first day of this week, and there is not much bright spot
.
On the technical side, aluminum is still in the volatility range, MACD indicators are stable, the current market is still divided on the trend of the aluminum market, and the wait-and-see attitude is obvious
.