Short-term macro sentiment improves Shanghai aluminum prices are at a high level

In terms of the external market, in the morning, Lun aluminum opened at 2480 US dollars / ton, after the opening of a slight retracement and then tested the 5-day moving average low touched 2465 US dollars / ton, and then pulled up 2500 US dollars / ton integer mark shock, into the European trading session, LME inventory report showed that Lun aluminum fell by 10525 tons, Lun aluminum entered the upward rhythm, the high touched 2534.
5 US dollars / ton, but with the release of the Eurozone PMI data that hit a new 14-month low, the US dollar index was shocked and soared, coupled with the pessimistic expectation of a slowdown in Europe, Base metal collective pressure down, although Lun aluminum once stepped back to 2476 US dollars / ton line, but the performance is still relatively strong, as of 18:10, Lun aluminum reported 2496.
5 US dollars / ton, short-term continue to pay attention to the further development of the Rusal incident and overseas macroeconomic indicators changes
.

In terms of market, Shanghai transaction concentration is 14970~14990 yuan / ton, the premium for the month is 30~40 yuan / ton, Wuxi transaction concentration is 14970~14990 yuan / ton, Hangzhou transaction concentration is 14970~14990 yuan / ton
.
The above quotation is the transaction price including the current monthly pass, if it is the next monthly pass, the transaction price is 60 yuan / ton
lower than the current monthly pass.
Cargo holders are actively shipping, because the reform of tax points is imminent, middlemen and downstream enterprises are also more willing to receive goods, and the overall transaction is better
.

In terms of inventory, during the day, the aluminum warehouse receipt of the previous period was 878292 tons, an increase of 2,743 tons
over the previous trading day.
As of April 23, LME aluminium ingot inventories were 1385025 tonnes, down 10,525 tonnes
from the previous session.

According to industry information, China's scrap metal imports in March fell 24.
6% from a year ago to 570,000 tons, as restrictions on solid waste imports officially came into effect
.
The data also showed that China's copper scrap imports in March were 220,000 tons, and scrap aluminum imports were 180,000 tons
.

Global (excluding China) daily average primary aluminum production increased to 72,000 tonnes
from 71,800 tonnes in March, data released by the International Aluminium Association (IAI) on Friday.
Global (excluding China) primary aluminum production rose to 2.
232 million mt in March, compared to 2.
01 million mt
revised in February.

On the whole, the price of Shanghai aluminum is at a high level, downstream demand is gradually improving, and in terms of external disk, the impact of US sanctions on Rusal continues to ferment, and Lun aluminum may have support
.
Technically, the short-term moving average is arranged long, the KDJ indicator is short arranged, and it is expected that the main force of Shanghai aluminum will fluctuate at a high of 1806, with a running range of 14800-15300, while paying attention to the trend of Lun aluminum, for reference
only.