The main force of Shanghai aluminum fluctuated to the upside, and the short-term continued to rise slightly

Market focus: (1) At 20:30 Beijing time on Wednesday, the United States will release first-quarter GDP data, and the market expects an annualized rate to decline by 3.
8%.

(2) In February, imports of U.
S.
aluminum products and scrap plummeted by 47% year-on-year to 238,000 tons
.

Spot analysis: On April 29, spot A00 aluminum was reported at 12770-12810 yuan / ton, with an average price of 12790 yuan / ton, a daily increase of 200 yuan / ton
.
The morning market trading is more active, the holders are actively shipping, the willingness of middlemen to receive goods is also more obvious, the later market transaction heat has fallen, because of the May Day holiday, there is a demand for stocking in the downstream day, and the enthusiasm for receiving goods has increased
compared with the previous two days.
The overall transaction in East China was good
.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 221136 tons on Wednesday, a daily decrease of 8291 tons, down 11 consecutive days; On April 28, LME aluminum stocks were 1,347,000 tons, an increase of 10,225 tons per day, an increase of 4 consecutive days
.
Main positions: the top 20 long positions of Shanghai aluminum main 2007 contract were 71447 lots, minus 1181 lots per day, short positions were 99414 lots, minus 2186 lots per day, net short positions were 27967 lots, daily minus 1005 lots, long and short were reduced, and net space was reduced
.

The progress of domestic electrolytic aluminum plant inspection and repair production is slow, coupled with the recovery of downstream processing plant production, demand has improved, and the recent Shanghai aluminum inventory has continued to degrade and expand; In addition, Yunnan and Gansu plan to collect and store, which has boosted market confidence and strengthened support for aluminum prices
.
The impact of the global epidemic has greatly affected the terminal industry, making the recovery of demand relatively slow, limiting the upward momentum
of aluminum prices.
In terms of spot, the morning market trading is more active, and there are many inquirers of receivers, but the enthusiasm of the later market has declined, and the downstream intraday on-demand procurement is the mainstay
.
Technically, the main 2007 contract of Shanghai aluminum tested the 12500 mark, but the mainstream position increased and decreased more, and it is expected to continue to rise
slightly in the short term.