The main force of Shanghai aluminum continues to decline in the short term or in a weak pattern

Industry: Albras' aluminium plant, partially owned by Norsk Hydro, a global aluminum production giant, began increasing production on Tuesday after it received permission from a federal court in Brazil to fully restart capacity at its Alunorteja aluminium plant
.

In terms of the market, the opening of the month was dominated
by narrow range fluctuations.
In the morning, a small amount of Shanghai market traded around 14190 yuan / ton, after the price of a website on the day, the market evaluation was too low, the actual transaction price gradually rose to around 14200-14210 yuan / ton, the price fell 40 yuan / ton from the previous day, for the current month flat water ~ premium 10 yuan / ton, Wuxi spot transaction price between 14200-14210 yuan / ton, Hangzhou transaction price between 14210-14230 yuan / ton
.
At low prices, traders are very active in receiving goods, and trading with middlemen is active, and some traders are slightly reluctant to sell
.
The downstream has been waiting for a long time, because the price is close to the ideal price in the heart, the enthusiasm for procurement has increased significantly, and the number of goods received is significantly higher than in the previous two days
.
now

In terms of inventories, LME aluminum stocks were 1,225,400 tonnes on May 21, down 5,800 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 main 1907 contract of Shanghai aluminum continued to decline during the day, as Norwegian Hydro said it had obtained permission from a federal court in Brazil to fully restart the production capacity of the world's largest alumina plant, which to some extent inhibited further upside in aluminum prices
.
In the spot market, traders at low prices are very active in receiving goods, and trading with middlemen is active, and some traders are slightly reluctant to sell
.
The downstream has been waiting for a long time, because the price is close to the ideal price in the heart, the enthusiasm for procurement has increased significantly, and the number of goods received is significantly higher than in the previous two days
.
The overall transaction in East China was better
during the day.
On the technical side, the Shanghai aluminum 1907 contract closed 4 consecutive days of black line, the MACD indicator weakened again, and the short-term aluminum price may be in a weak pattern
.