The main force of Shanghai aluminum opened high and fluctuated, and the transaction between the two sides was slightly deadlocked

Market focus: (1) At 20:30 Beijing time on Thursday, the US jobless claims data will be released, and the market expects 5 million people
.
(2) SMM data, China's metallurgical-grade alumina output in March was 5.
434 million tons, down 1.
75% and 9.
72%.

China's electrolytic aluminum output in March was 3.
036 million tons, an increase of 1.
9%
year-on-year.
(3) As of April 9, domestic electrolytic aluminum stocks fell by 69,000 tons from last Thursday to 1.
607 million tons; domestic aluminum rod stocks decreased by 04,100 tons from last Thursday to 170,100 tons
.

Spot analysis: On April 9, spot A00 aluminum was reported at 11590-11630 yuan / ton, with an average price of 11610 yuan / ton, a daily increase of 40 yuan / ton
.
Although the early cargo holders are active but relatively high prices, the middlemen are active in inquiry but the actual receipt is not much, the transaction between the two sides is slightly deadlocked, 11:30 late aluminum upward, the holder's quotation has also been raised, but at this time the trading heat fell back to the market almost no transaction, downstream intraday on-demand procurement, and no bright spots
.
The overall transaction in East China was flat
during the day.

Warehouse receipt inventory: Shanghai aluminum warehouse receipts totaled 313779 tons on Thursday, a daily decrease of 803 tons; On April 8, LME aluminum stocks were 1227450 tons, an increase of 13,700 tons
per day.
Main positions: the top 20 long positions of Shanghai aluminum main 2006 contract were 85674 lots, minus 1990 lots per day, short positions were 104585 lots, daily increase of 917 lots, net short positions were 18911 lots, daily increase of 2907 lots, more short increases, net short increased
.

The impact of the pandemic on the global economy is still expanding, and the decline in demand has led to the closure of several aluminum processing plants in the United States; And the improvement of the domestic epidemic has led to the resumption of work on alumina, and the continuous decline in prices has weakened the cost support, putting pressure
on aluminum prices.
However, the continuous increase in global easing policies, coupled with the inflection point of the epidemic in Europe, has improved market sentiment; And the current aluminum price fell below the cost line, refinery production reduction expectations strengthened, coupled with the recent slowdown in Shanghai aluminum inventory growth, which supported aluminum prices
.
In terms of spot, although the early holders shipped actively but relatively high prices, the middlemen inquired actively but did not receive many goods, the transaction between the two sides was slightly deadlocked, and the downstream intraday on-demand procurement was not bright.

Technically, the trading volume of Shanghai's main 2006 contract continued to decline, and the box-type range fluctuated, and it is expected that the short-term shock will be adjusted
.