Shanghai aluminum weak shock price fell slightly

Industry: The World Bureau of Metal Statistics (WBMS) announced that the global primary aluminum market supply gap was 2,000 tons from January to March 2019, compared with 969,000 tons
for the whole year of 2018.
In March 2019, global primary aluminum production was 5.
1494 million tons, and consumption was 5.
2432 million tons
.

In terms of the market, the opening of the month was dominated by narrow range fluctuations, and the center of gravity rose slightly before
noon.
Shanghai spot trading price is around 14150-14160 yuan / ton, the price is down 50 yuan / ton from the previous day, the morning opposite plate premium around 20 yuan / ton, with the rise of aluminum in the future, began to the flat water ~ liter of the month 10 yuan / ton, Wuxi spot transaction price between 14150-14160 yuan / ton, Hangzhou transaction price between 14180-14200 yuan / ton
.
The intraday market has sufficient supply, due to the inversion of aluminum and the superposition of spot premium, the holders are actively shipping, and the trading between traders is active
.
As the price continued to fall compared with the previous day, the downstream recognized the price, and the performance of receiving goods within the day was acceptable
.

Inventories: LME aluminum stocks were 1,222,625 tonnes on May 22, down 2,775 tonnes from the previous session; As of May 17, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 569,131 tons, down 32,231 tons
from the previous week.
From a seasonal perspective, current inventories remain at an average
level compared to the last five years.

The 1907 contract of Shanghai's main aluminum industry was weak and volatile during the day, due to the continuation of Sino-US trade tensions and the recent full restart of the world's largest alumina plant capacity by Norwegian Hydro, which put pressure
on aluminum prices.
In the spot market, the supply is sufficient, due to the inversion of aluminum and the superposition of spot premium, the holders are actively shipping, and the traders are actively
trading.
As the price continued to fall from the previous day, the downstream recognized the price, and the performance of receiving goods was acceptable
.
On the technical side, the short-term average of the Shanghai aluminum 1907 contract has declined, the MACD indicator green column has expanded, and the short-term aluminum price may still be in a weak pattern
.
In terms of operation, it is suggested that the Shanghai-aluminum 1907 contract can consider rebounding and selling short by the 10-day moving average
.