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Trade Service
Recently, Shanghai aluminum showed a volatile upward trend, and the main 2006 contract closed at 12660 yuan, up 375 yuan
weekly.
At present, Shanghai aluminum is still in the rally, and the trend is relatively strong
.
But from the graphical point of view, there is pressure at 10,000, because Shanghai aluminum has had a consolidation
here for nearly a week before.
In terms of inventories, the London Metal Exchange (LME) reported 1346775 metric tons of London aluminum on April 29, down 225 metric tons
from the previous trading day.
In terms of the market, on April 29, the domestic spot aluminum price rose, and the spot AOO aluminum ingot price of Changjiang Nonferrous Network was reported at 12780 yuan / ton, up 180 yuan; The price of Chinalco East China AOO aluminum ingots was 12,780 yuan / ton, up 180 yuan
.
The confirmation of the timing of the two sessions boosted confidence, and the eleventh department recently introduced measures to stabilize and expand automobile consumption, coupled with Yunnan and Gansu plans to carry out metal storage and storage, and the willingness to replenish downstream before the holiday is strong
.
It is understood that due to the sharp rise in aluminum rod processing fees last week, especially in Guangdong, the processing fee reached up to 1,000 yuan, resulting in an influx of aluminum rods from other regions into Guangdong
.
Due to high profits, the suspended aluminum rod production lines in the northwest, southwest and other regions have signs of
resuming production.
It is understood that the United States is proposing relevant regulations to strengthen the tracking of imported aluminum, which may have a certain impact on China's aluminum exports, in addition, due to the decline in the number of orders caused by the overseas new crown pneumonia epidemic, it is expected that the aluminum export data in May will decline
greatly.
At present, the spot supply of aluminum is relatively tight, the premium continues to rise, and the inventory is still declining, and Shanghai aluminum is still in an upward trend
.
However, the subsequent increase may be limited, and it is necessary to pay attention to the risk of falling after approaching 10,000, on the one hand, because too high smelting profits may lead to accelerated production of electrolytic aluminum production capacity, on the other hand, because the future aluminum export data may decline sharply
.
