The aluminum market continues to destock, and prices have rebounded at a low level

On April 17, the domestic spot aluminum price rose, and the spot AOO aluminum ingot price of Yangtze River Nonferrous Metal Network was reported at 12150 yuan / ton, up 150 yuan; The price of Chinalco East China AOO aluminum ingots was 12180 yuan / ton, up 150 yuan
.

In the South China market, the holders of goods are willing to sell at high prices, traders are unenthusiastic about receiving goods, the premium is high, and the trading performance is average; The circulation of goods in the East China market has been significantly tightened, traders have actively entered the market to purchase, and the actual trading volume is not large
.

China's average daily primary aluminum production in March fell 1.
7% from the previous two months, hitting the lowest daily production level since October last year, smelters were forced to cut production, and the continued reduction of aluminum ingot social stocks and exchange inventories continued to reduce support prices
, according to the National Bureau of Statistics.

Under the dual benefits of macro and fundamentals, aluminum prices have rebounded from a low level, and there may be further upward momentum
in the short term.
However, the production profit of aluminum plants has improved, the willingness of aluminum plants to reduce production has decreased, and whether it can continue to quickly go to storage is still doubtful, aluminum prices continue to rise sharply The momentum is weakened, and the early long orders can continue to be held, and the new long order layout is recommended to wait and see
for the time being.