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Today's Shanghai aluminum main month 2006 contract opened at 11830 yuan / ton, the highest intraday 12015 yuan / ton, the lowest 11780 yuan / ton, settled 11910 yuan / ton, and closed at 11950 yuan / ton, up 180 yuan
.
China is promoting the operation of the real economy, and today's Shanghai aluminum trend is strong, and the global aluminum industry chain is facing challenges under the impact of the epidemic, or hindering the upward height
of aluminum prices.
In terms of the market, the price of Chinalco East China AOO aluminum ingots was 11820 yuan / ton, up 20 yuan
.
The impact of the epidemic continues to shrink overseas demand, China's March unwrought aluminum and aluminum exports decreased by 5.
02% year-on-year, aluminum exports are still facing challenges, while aluminum ingot social inventory ushered in an inflection point, spot prices are slightly firm, today's spot aluminum prices or rise or fall little
.
Industry News:
1.
According to foreign media reports, GM said on April 9 that it plans to continue to shut down its plant in Brazil for at least 60 days due to the new crown virus crisis, and the last group of union workers have voted on the proposal
.
GM said all but one of the Brazilian workers had agreed to the shutdown and accepted a pay cut of up to 25 percent
.
GM may extend the shutdown to 90 days if the crisis persists and prevents factories from reopening after 60 days
, according to documents sent to employees.
GM's decision has put its Brazilian plants behind those in Europe, and many companies have said they plan to restart production in Europe by the end of the month
.
In the U.
S.
, manufacturers including FCA and Toyota are hoping to restart production
in early May.
2.
China's light vehicle production is gradually picking up, and experts predict that China's light vehicle production will fall by 11.
5% this year to 21.
6 million units
.
The forecast, provided by industry research firm IHS Markit, also reportedly shows a 7.
5%
rebound in 2021.
Before the pandemic, car sales in China were expected to decline by 2% in 2020, and production will experience a similar decline
.
Aluminum prices are still a weak variety in the non-ferrous sector, the loss of the industry is more by compressing upstream profits rather than reducing production, the status quo of oversupply continues, and the impact of external demand, especially the automotive industry, has an obvious
negative effect on consumption during the year.
Before the large-scale production reduction in China, the fundamentals of electrolytic aluminum remained weak, and the operation still maintained light short
selling.
