Aluminum maintains a volatile trend and still faces downward risks in the later stage

In terms of the market, the price of electrolytic aluminum in Shanghai Nonferrous Metals Trading Center was quoted at 13710-13750 yuan / ton, down 30 yuan / ton from the previous trading day, and the spot discount was reported to C160-C120 yuan / ton, the morning holders shipped positively, the middlemen were willing to receive goods but the price was deadlocked, and the market received goods slightly after the rebound of aluminum prices in the later period, and the overall trading was more active
.

Market News:

1.
U.
S.
Customs and Border Guard will begin imposing steel and aluminum tariffs
.
At this time, U.
S
.
manufacturers are also beginning to pay attention to whether and how companies can be exempted from high tariffs.

2.
With the end of the heating season, the production capacity of alumina in Henan will enter the stage of resumption
.
According to Antaike's understanding, the tight supply of bauxite in Henan will affect the progress
of the company's resumption of production to a certain extent.

In terms of news, after the end of the heating season, the tight supply of bauxite led to the resumption of work and production of alumina is not ideal, the domestic aluminum market supply pressure is expected to be eased, smelter shipments reduced led to a slight decline in aluminum inventory, Shanghai aluminum prices rebounded slightly, but in the short term domestic electrolytic aluminum will show an oversupply situation, aluminum market above the rebound space is not large, it is expected that aluminum prices will still weaken, short-term easy to fall and difficult to rise
.
On the technical side, the main KDJ dead cross and MACD dead cross of Shanghai aluminum, after the price failed to rise to the 20-day moving average of 14170 yuan, it temporarily stabilized above the 5-day moving average, and will maintain range-bound operation in the short term, and still face downward risks
in the later stage.