Shanghai aluminum weak finishing The market is basically purchased on demand

Industry: Norwegian Hydro said there were problems at the Alunorte plant, higher raw material costs, and lower EBIT in 2018
.

In terms of the market, aluminum futures maintained range-bound
volatility before noon of the month.
The transaction price in Shanghai is between 13790-13800 yuan / ton, and the price is basically flat for the month around 220-230 yuan / ton, and the transaction price is basically flat on Friday, the transaction price in Wuxi is between 13790-13800 yuan / ton, and the transaction price in Hangzhou is between
13800-13820 yuan / ton.
Following the announcement of the tax cut last week, the spot premium exceeded $200 on the first day after the futures month, and traders took into account the decline in the tax rate after the tax cut, and there were more
people receiving goods within the day.
The market supply is more sufficient, and the transaction is more active, but the downstream manufacturers are still performing on the sidelines, and there are not many
basic on-demand procurement receipts.
Intraday East China transaction is average
.

In terms of inventories, LME aluminum stocks were 1,182,850 tonnes on March 15, down 6,175 tonnes from the previous session; As of March 15, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 739,058 tons, down 507 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.

Shanghai aluminum weakly sorted out during the day, due to the significant narrowing of the reduction in Shanghai aluminum inventory in the previous period, and the continuous decline in aluminum production costs dragged down
.
In the spot market, following the announcement of the tax cut last week, the spot premium exceeded 200 yuan on the first day after the futures month, and traders took into account the decline in the tax rate after the tax cut, and there were more
people receiving goods within the day.
The market supply is more sufficient, the transaction is more active, but the downstream manufacturers still perform wait-and-see, basically purchase on demand, and do not receive many
goods.
On the technical side, the MACD indicator of Shanghai-aluminum 1905 contract is stable, the moving average combination tends to be intertwined, the short-term upward and downward space of the futures price is not large, and the short-term recommendation is to be
treated with shocks.
Operationally, it is recommended that the Shanghai-aluminum 1905 contract can consider selling high and low between 13500-13700 yuan / ton, and the stop loss is 100 yuan / ton
each.