The main force of Shanghai aluminum opened low and went low, and short-term fatigue was fully displayed

On the industry front, U.
S.
President Donald Trump announced on Sunday that he would raise tariffs on $200 billion of Chinese exports this week and will soon impose tariffs
on another hundreds of billions of dollars.
The Wall Street Journal reported late Sunday that China was considering canceling trade talks
planned for Washington this week following Trump's tariff threat.
Mr.
Trump's comments came as a surprise
to Chinese officials.

In terms of the market, the aluminum futures fell before noon in the month, the first trading stage Shanghai transaction price is between 14080-14090 yuan / ton, the opposite plate premium 20-30 yuan / ton, then aluminum price sinking, the second trading stage Shanghai spot transaction price is between 14050-14070 yuan / ton, the opposite plate premium 20-30 yuan / ton, Wuxi transaction price is between 14080-14090 yuan / ton, Hangzhou transaction price is between 14090-14110 yuan / ton
。 After the holiday, due to the influence of overseas tariff rumors, aluminum prices opened down, and spot prices fell by more than 100
compared with before the holiday.
The market is in sufficient supply, and some traders consider that spot is stronger than futures, which is conducive to futures arbitrage, active in receiving goods, and the overall transaction is more active
.
Some downstream manufacturers have a wait-and-see attitude towards aluminum prices and are hesitant to purchase, but some downstream accept goods
at low prices.
The overall transaction in East China within the day is average
.

In terms of inventories, LME aluminum stocks were 1,250,250 tons on May 03, an increase of 22,600 tons from the previous session; As of April 26, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 638,030 tons, down 27,037 tons
from the previous week.
From a seasonal perspective, current inventories remain at an average
level compared to the last five years.

During the day, the main 1906 contract of Shanghai aluminum opened low and went low, suppressed by macro bearishness, non-ferrous metals generally weakened, and aluminum prices also showed a weak trend
.
In the spot market, the supply is sufficient, and some traders consider that spot is stronger than futures, which is conducive to futures arbitrage, active in receiving goods, and the overall transaction is more active
.
Some downstream manufacturers have a wait-and-see attitude towards aluminum prices and are hesitant to purchase, but some downstream accept goods
at low prices.
The overall transaction in East China within the day is average
.
On the technical side, the Shanghai aluminum 1906 contract fell back below 14,000 yuan / ton, and the MACD indicator formed a dead cross at a high level, and the short-term aluminum price fatigue was showing
.
Operationally, it is recommended that short orders in the early stage of the Shanghai-aluminum 1906 contract can be considered to continue to hold, and if the futures price rebounds above 14,000 yuan / ton, take profit
can be considered.